reglab/statecodes huggingface dataset:
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 309 - DWELLING UNIT REVOLVING FUND EQUITY PILOT PROGRAM › Subchapter 2 - DWELLING UNIT REVOLVING FUND EQUITY PILOT PROGRAM › Section 15-309-15 - Restrictions

Current through June, 2024
(a) Real property purchased under this
				  chapter shall be occupied at all times by the qualified purchaser until such
				  time the corporation's equity, including any accrued interest, and equity
				  percentage share, if any is paid in full to the corporation, except in hardship
				  cases where the inability to reside on the property arises out of unforeseeable
				  circumstances as determined by the corporation and the qualified purchaser is
				  granted a temporary waiver of the owner occupancy requirement. The qualified
				  purchaser shall submit an application for relief to the corporation for review
				  and approval.
(b) Unit owners shall
				  not transfer title to the dwelling unit unless the corporation's equity,
				  including any accrued interest, is paid in full to the corporation prior to the
				  transfer. This restriction includes, but is not limited to, transfers to the
				  owner's spouse, child, parent, sibling, or an inter vivos trust where the owner
				  is the beneficiary of the trust.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 309 - DWELLING UNIT REVOLVING FUND EQUITY PILOT PROGRAM › Subchapter 2 - DWELLING UNIT REVOLVING FUND EQUITY PILOT PROGRAM › Section 15-309-16 - Non-compliance penalties

Current through June, 2024
Upon determination by the corporation of a qualified
					 purchaser's non-compliance with program rules and requirements, the qualified
					 purchaser shall be notified in writing and within sixty calendar days from the
					 date of the notification, the qualified purchaser shall correct the
					 non-compliance. The penalty for non-compliance with program rules and
					 requirements is at the discretion of the corporation. In all cases, the
					 corporation reserves the right to pursue all legal remedies to recapture the
					 funds awarded, to seek specific performance, or other actions deemed
					 necessary.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-1 - Purpose

Current through June, 2024
The purpose of the program is to assist former Del Monte
				  Fresh Produce pineapple workers and retirees in danger of losing their homes by
				  establishing a pineapple workers and retirees housing assistance fund program
				  to help eligible homeowners keep up with their mortgage payments and provide
				  rental subsidies.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-2 - Definitions

Current through June, 2024
As used in this chapter: "Corporation" means the Hawaii
				  housing finance and development corporation.
"Eligible applicant" means persons, subject to limitation
				  stated in section 15-310-8(d), who:
(1) Were employed by Del Monte Fresh Produce on the date of
				  the announcement of closure of Del Monte Fresh Produce on February 1, 2006 or
				  has retired from Del Monte Fresh Produce; and
(2) Whose eligible mortgage payment or rent payment exceeds
				  30 per cent of their gross household income, or who can demonstrate that they
				  are presently delinquent on eligible mortgage or rent payments.
"Eligible mortgage payments" means payments on first home
				  mortgages approved prior to' the announcement of closure of Del Monte Fresh
				  Produce on February 1, 2006.
"Executive director" means the executive director of the
				  Hawaii housing finance and development corporation.
"Program" means the pineapple workers and retirees housing
				  assistance fund program as established by Act 203, Session Laws of Hawaii
				  2007.
"SLH" means Session Laws of Hawaii.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-3 - Provider agency

Current through June, 2024
The corporation may secure the services of a nonprofit
				  organization or entity to assist in carrying out the purposes of this chapter.
				  The provider agency may receive payment for reasonable administrative expenses
				  from program funds.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-4 - Program applications

Current through June, 2024
(a) The corporation
				or provider agency shall accept and review applications for the
				program.
(b) An eligible applicant
				to the program shall submit a completed application form, which includes
				information related to the request for program assistance. This information
				shall include, but not be limited to, the applicant's name and date of birth,
				the name and date of birth of spouse and/or any other adult in the household,
				family composition, current household income, present housing status,
				employment information and status, amount and type of grant being requested,
				date of application, and date of completed application.
(c) The application may be on a form prepared
				by the corporation or provider agency and approved by the
				corporation.
(d) The corporation or
				provider agency shall make awards of program assistance to eligible applicants.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-5 - Participant eligibility

Current through June, 2024
In order to be determined eligible to participate in the
				  program, an applicant shall submit a completed application, including, but not
				  limited to, verification documentation pursuant to section 15-310-9.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-6 - Eligible costs

Current through June, 2024
(a) Program assistance funds may be used to
				help an eligible applicant with the following costs:
(1) Eligible first mortgage payments;
				or
(2) Eligible rent
				subsidies.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-7 - Ineligible uses of program assistance

Current through June, 2024
Ineligible uses of program assistance funds shall include,
				  but not be limited to, an eligible applicant's portion of financial
				  responsibility for government subsidized housing.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-8 - Limits on program assistance

Current through June, 2024
(a) Assistance
				shall be made only to the extent that funds are available.
(b) Program assistance shall not exceed a
				maximum of $1,000 per month for a period not to exceed six months, or a total
				maximum of $6,000 per eligible applicant.
(c) The corporation or provider agency shall
				base the actual amount of the monthly assistance on. 70 per cent of the
				eligible applicant's eligible mortgage payment or eligible rent subsidy, up to
				the maximum assistance amount.
(d)
				Only one program assistance grant shall be made per currently-existing
				household, as limited by subsection (b), above.
(e) The corporation or provider agency may
				impose reasonable requirements on the participant in order to receive program
				assistance.
(f) The corporation or
				provider agency shall monitor the levels of assistance provided to each program
				participant. The corporation or provider agency shall take appropriate action
				to ensure that participants do not receive assistance over the limits
				established in subsections (b), (c) and (d).
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 310 - PINEAPPLE WORKERS AND RETIREES HOUSING ASSISTANCE FUND PROGRAM › Section 15-310-9 - Verification of information

Current through June, 2024
(a) The corporation
				or provider agency shall obtain documentation to verify applicant information
				relating to participation in the program. This documentation shall include but
				not be limited to:
(1) Eligible employment or
				retirement status with Del Monte Fresh Produce;
(2) Recent pay stubs, or other verification
				of current income;
(3) An affidavit
				attesting to program eligibility; and
(4) A copy of the lease agreement for which
				the assistance will go towards and the landlord's taxpayer identification
				number; or
(5) A copy of a recent
				mortgage statement for which the assistance will go towards.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-311-1 - Purpose

Current through June, 2024
These rules are adopted pursuant to chapters
					 91 and
					 92, Hawaii Revised Statutes, and
					 implement chapter
					 201H, Hawaii Revised Statutes, which
					 establishes a "rental housing revolving fund" as a resource to assist lower
					 income families and individuals, including the homeless and special need
					 groups, in obtaining rental housing.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-311-3 - Fees

Current through June, 2024
The corporation may charge the following fees:
(1) Application fee: $2,000;
(2) Loan extensions and modifications:
				  $1,000;
(3) Loan origination fee:
				  one-half per cent (0.5%) of loan amount; and
(4) Annual compliance monitoring fee: $35 per
				  unit per year for all project units excluding managers units.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-311-4 - Authority to hire outside consultants

Current through June, 2024
The corporation may hire outside consultants when in the
					 determination of the corporation the services to be performed by the consultant
					 are essential in carrying out the purposes of the fund.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 2 - RENTAL HOUSING REVOLVING FUND › Section 15-311-21 - Project criteria for funding; minimum requirements

Current through June, 2024
Qualified housing projects funded in whole or in part
					 through loans or grants from the rental housing revolving fund must meet the
					 one of the following criteria:
(a)
(1) At least fifty per cent of the available
				  units are for persons and families with incomes at or below eighty per cent of
				  the median family income; and
(2) At
				  least five per cent of the available units are for persons and families with
				  incomes at or below thirty per cent of the median family income; and
(3) The remaining units are for persons and
				  families with incomes at or below one hundred per cent of the median family
				  income at the time of admission into the housing project; or
(4) Is a mixed-income rental project or units
				  in a mixed-income rental project wherein all of the available units are for
				  persons and families with incomes at or below one hundred forty per cent of the
				  median family income.
Provided, however, that if there are an insufficient number
					 of persons or families who meet the income qualifying criteria for admission
					 into the housing project, the corporation may permit the developer to rent
					 units to higher income tenants in order to ensure full occupancy of funded
					 projects.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 2 - RENTAL HOUSING REVOLVING FUND › Section 15-311-22 - Rental housing revolving fund; allowable uses

Current through June, 2024
(a) The
				  rental housing revolving fund may be utilized to provide loans or grants for
				  the development, pre-development, construction, acquisition, preservation, and
				  substantial rehabilitation of rental housing units that meet the criteria for
				  eligibility set forth in sections 15-311-21 and 15-311-32. Additionally, an
				  amount from the fund may be used to pay for administrative expenses incurred by
				  the corporation in administering the fund.
(b) Activities eligible for assistance from
				  the fund shall include, but not be limited to:
(1) Planning;
(2) Design;
(3) Land acquisition;
(4) Costs of options;
(5) Agreements of sale;
(6) Downpayments;
(7) Equity financing, including the
				  leveraging of moneys with the use of fund assets;
(8) New construction or rehabilitation
				  activities;
(9) Acquisition of
				  housing units for the purpose of preservation as lower cost housing;
(10) Pre-development activity grants or loans
				  to nonprofit organizations or governmental agencies, provided that an
				  organization or agency may be eligible to receive one grant or loan per rental
				  housing project;
(11) Capacity
				  building grants to nonprofit organizations, provided that an organization may
				  be eligible to receive no more than $150,000 per nonprofit
				  organization;
(12) For
				  participation in interim construction loans provided by private lenders or in
				  loan programs administered by government agencies, such as the dwelling unit
				  revolving fund administered by the corporation; and
(13) Other housing development services or
				  activities as approved by the corporation on a case-by-case basis. .
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 2 - RENTAL HOUSING REVOLVING FUND › Section 15-311-23 - Rental housing revolving fund; project administrative expenses

Current through June, 2024
Program funds cannot be used to finance the day-to-day
					 administrative expenses of projects which are allotted revolving fund moneys.
					 For the purposes of this chapter, "day-to-day administrative expenses of the
					 project" shall refer to the administrative expenses of the project after
					 occupancy of the units has taken place.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 2 - RENTAL HOUSING REVOLVING FUND › Section 15-311-24 - Loans and grants to nonprofit and governmental entities

Current through June, 2024
(a)
				  Loans and grants may be provided to nonprofit or governmental entities for the
				  purposes set forth in section 15-311-21 and shall be subject to the additional
				  conditions set forth in this section.
(b) The corporation shall objectively review
				  each project on a case-by-case basis to determine whether a loan or a grant is
				  to be provided, and shall not be predisposed to providing loans over grants.
				  The corporation shall also set forth the terms and conditions of the loan or
				  grant, including the interest rate, repayment requirements, if applicable,
				  appropriate security, and the like. The corporation may waive the repayment of
				  funds used for predevelopment activities if the project fails to materialize
				  through no fault of the recipient.
(c) The corporation shall take all reasonable
				  steps necessary to ensure that projects funded shall remain affordable for the
				  economic life of the project or for as long as rental housing revolving fund
				  moneys are invested in the project; provided, however, that upon the request of
				  the project owners, the corporation shall have the authority to waive the
				  conditions of the loan or grant due to extreme hardship or if such
				  modifications are in conformity with the corporation's then existing rules for
				  loans and grants for new projects. For example, the corporation, in conformity
				  with its then existing rules, shall have the authority to subordinate an
				  existing loan or grant to a subsequent rehabilitation mortgage loan.
(d) The corporation shall ensure that loans
				  and grants provided for equity gap financing or interim construction purposes
				  are secured to safeguard against a change in the use or ownership of the
				  project, or the project no longer fulfilling the intended purpose for which the
				  grant was provided. Loans and grants may be secured through any of the
				  following means:
(1) Use of a forgivable or
				  subordinated mortgage;
(2)
				  Development of a project on government-owned land with conditions attached to
				  the land;
(3) Use of a regulatory
				  agreement; or
(4) Any of a
				  combination of the above.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 2 - RENTAL HOUSING REVOLVING FUND › Section 15-311-25 - Loans to for-profit entities

Current through June, 2024
(a) Loans may be
				  provided to for-profit entities for the purposes set forth in section 15-311-21
				  and shall be subject to any additional conditions set forth in this section.
(b) The corporation shall set
				  forth the terms and conditions of the loan on a case-by-case basis, including
				  the interest rate, repayment requirements, appropriate security, and the
				  like.
(c) The corporation shall
				  take all reasonable steps necessary to ensure that projects funded shall remain
				  affordable for the economic life of the project or for as long as rental
				  housing revolving fund moneys are invested in the project.
(d) The corporation shall ensure that loans
				  provided under this section are secured to safeguard against a change in the
				  use or ownership of the project, or the project no longer fulfilling the
				  intended purpose for which the loan was provided. Loans may be secured through
				  any of the following means:
(1) Use of a
				  forgivable or subordinated mortgage;
(2) Development of a project on
				  government-owned land with conditions attached to the land;
(3) Use of a regulatory agreement;
				  or
(4) Any of a combination of the
				  above.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 3 - APPLICATION PROCEDURES › Section 15-311-31 - Applications for program funds

Current through June, 2024
(a) At the start of
				  each fiscal year, the corporation shall commence with an outreach program,
				  advertising the availability of moneys from the revolving fund. Such outreach
				  shall include, but shall not necessarily be limited to:
(1) A direct mailing to all known interested
				  parties notifying the parties of funding availability;
(2) Publishing a notice of funding
				  availability in a newspaper of general circulation, as well as in each of the
				  major local newspapers;
(3) Issuing
				  press releases to major media; and
(4) Any other means deemed appropriate by the
				  corporation.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 3 - APPLICATION PROCEDURES › Section 15-311-32 - Evaluation of requests for program funds; criteria point system

Current through June, 2024
(a) The corporation will review and evaluate
				  each complete application for program funds, and shall take into consideration
				  factors such as compliance with the purposes and intent of chapter
				  201H, HRS, and other relevant
				  factors.
(b) In evaluating the
				  requests for program funding, the corporation shall provide a preference to
				  projects meeting the following criteria which are listed in descending order of
				  priority:
(1) Projects which serve the
				  original target group;
(2) Projects
				  which provide at least five per cent of the total number of units for persons
				  and families at or below thirty per cent of the median family income;
(3) Projects which provide the maximum number
				  of units for families with incomes at or below eighty per cent of the median
				  family income;
(4) Projects which
				  are committed to serving the target group over a longer period of
				  time;
(5) Projects which increase
				  the integration of income levels of the immediate community area;
(6) Projects which meet the geographic needs
				  of the target group of the proposed rental housing project, such as proximity
				  to employment centers and services; and
(7) Projects being developed by applicants
				  with a favorable past performance in developing, owning, managing, or
				  maintaining affordable rental housing; provided that the corporation may
				  include other criteria as it deems necessary to carry out the purposes of the
				  revolving fund. If the corporation, after applying the process described in
				  this section, finds a nonprofit project equally ranked with a for-profit or
				  government project, the corporation shall give preference to the nonprofit
				  project in allotting revolving fund moneys.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 3 - APPLICATION PROCEDURES › Section 15-311-33 - Corporation action

Current through June, 2024
(a) The corporation
				  may accept a request that program funds be allocated or may deny a request for
				  program funds for a project. The corporation may also defer action on any
				  request for project funds and may request that additional information be
				  submitted. If the corporation accepts a request that program funds be allocated
				  for a project, the corporation must make specific findings that the use and
				  application of program funds for the project are consistent with the purposes
				  of the program and must submit a recommendation to the governor that program
				  funds be allocated for the project.
(b) For any project that the corporation
				  recommends to be assisted by program funds, the corporation shall provide the
				  governor with a summary of the project to be developed. The summary shall
				  include:
(1) The various aspects of the
				  project, including any projects or loan programs to be a part of the
				  program;
(2) The methods of
				  financing the project or loans;
(3)
				  If applicable, how the program funds will be returned to the program;
(4) Specific findings that the application of
				  program- funds will meet the requirements of the program and that the
				  application of program funds will comply with the primary objectives of the
				  program;
(5) Other information
				  which the corporation deems relevant; and
(6) Other information as the governor may
				  request.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 3 - APPLICATION PROCEDURES › Section 15-311-34 - Commitment of program funds

Current through June, 2024
Program funds may be committed in participation with other
					 lenders. The corporation shall not issue nor make any commitment of program
					 funds for any project unless the corporation has first made a determination
					 that the purposes and amounts for which program funds are to be applied are
					 consistent with the purposes of the program and the governor has approved the
					 commitment of program funds for the project. All commitments for program funds
					 shall be made subject to availability of program funds.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 3 - APPLICATION PROCEDURES › Section 15-311-35 - Conditions for program funds

Current through June, 2024
For a commitment of project funds, the corporation may
					 require the applicant to enter into an agreement with the corporation, such as
					 a development agreement or regulatory agreement, evidencing the applicant's
					 obligation to develop the project in a manner which will carry out the intent
					 and purpose of the program. The corporation may require the applicant to
					 prepare and maintain such records, including cost certifications, which
					 evidence that project funds are being applied in a manner which meets the
					 requirements of the program.
Additionally, the corporation may impose such requirements
					 including restrictions covering the sale of dwelling units set forth in
					 sections
					 201H-45
					 through
					 201H-51,
					 HRS, or such other restrictions which the corporation shall require as a
					 condition for project funds.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-41 - Procedural manual

Current through June, 2024
The corporation shall produce, maintain, and update a
					 procedural manual. The procedural manual shall include detailed information
					 about such items as:
(1) The
				  applications process;
(2)
				  Information required of applicants;
(3) The allocation plan; and
(4) The rights of the corporation.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-42 - Compliance monitoring plan

Current through June, 2024
The corporation shall monitor compliance with the terms set
					 forth in the regulatory agreement for the period a project is committed to
					 providing affordable rental units. The corporation will certify the rents being
					 paid by the tenants on no less than an annual basis and recertify the rents
					 being paid by tenants every year thereafter.
Projects shall maintain copies of the rental contracts,
					 rent invoices, or other documents relating to the amount being paid by tenants
					 as rent. Projects will be required to maintain records regarding the number of
					 units (including number of bathrooms and square footage of each bedroom);
					 percentage of rental units that are affordable; rent charged per unit including
					 utility allowances; number of occupants in each unit; and documentation
					 regarding vacancies.
The corporation may perform an audit at least once a year,
					 but shall have access to all books and records upon notice to the project
					 owner. Annually, projects receiving rental housing revolving fund awards shall
					 be required to certify to staff that for the previous year, the minimum
					 set-aside requirement was met; the rent charged to tenants was in accordance
					 with the allowable rental schedule; and each building was suitable for
					 occupancy, taking into account local health, safety and building codes.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-43 - Non-compliance penalties

Current through June, 2024
The penalty for non-compliance with program rules and
					 requirements is at the discretion of the corporation. For projects receiving
					 program funds in the form of loans, foreclosure proceedings is one alternative.
					 For projects receiving grants, the corporation may undertake legal proceedings
					 to secure specific performance. In all cases, the corporation reserves the
					 right to pursue any and all legal remedies to recapture the funds awarded, to
					 seek specific performance, or other actions that it deems necessary.
Upon determination by the corporation of non-compliance
					 with program rules and requirements, the owner shall be notified and given
					 sixty calendar days to correct the violations. The corporation may extend the
					 correction period, up to a total of six months if it is determined that good
					 cause exists for granting such an extension.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-44 - Books and records

Current through June, 2024
The corporation shall insure that proper books and records
					 are appropriately maintained. The books shall show, among other things, the
					 amount and purpose of the application of moneys on deposit in the rental
					 housing revolving fund and the source of the moneys and separate accounting for
					 earnings on moneys on deposit in the rental housing revolving fund and proceeds
					 on borrowing in accordance with generally accepted accounting principles and
					 procedures.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-45 - Audit and cost certification

Current through June, 2024
All books and records of a project shall be subject to
					 audit and all expenditures of a project shall be subject to cost certification.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-46 - Annual report to the governor and legislature

Current through June, 2024
The corporation shall at least once a year file with the
					 governor and the legislature a report of the revolving fund activities for the
					 preceding year. As used in this section, the term year shall mean the fiscal
					 year beginning on July 1, and ending on June 30. The annual report shall
					 provide the following information on the status of its programs and
					 finances:
(1) A description of
				  projects being developed in the current fiscal biennium including:
(A) A summary listing of such
				  projects;
(B) The status of each
				  project;
(C) The methods of project
				  financing of grants and loans;
(D)
				  Other information deemed significant;
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 4 - REPORTING AND OTHER REQUIREMENTS › Section 15-311-47 - Annual evaluation of program

Current through June, 2024
The corporation shall evaluate the revolving fund program
					 each year and shall report its evaluation with suggested changes to the
					 legislature not fewer than twenty days before the convening of each regular
					 session.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 5 - OTHER PROVISIONS › Section 15-311-51 - Forms

Current through June, 2024
The corporation may prescribe and use such forms as it may
					 reasonably require to carry out its functions. The corporation at any time may
					 create, modify, amend, or delete any forms in order to effectuate the purposes
					 herein.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-312-1 - Purpose

Current through June, 2024
These rules are adopted under chapter
					 91, HRS, and implements part III,
					 chapter
					 201H, HRS, and the following
					 objectives:
(1) Increase the supply of
				  affordable rental units available in the State;
(2) Make funds available at feasible interest
				  rates to make eligible project loans in order to permit the construction of
				  eligible project; and
(3) Encourage
				  the participation of qualified sponsors in the programs authorized by part III,
				  chapter
				  201H, HRS.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-312-3 - Delegation

Current through June, 2024
The corporation delegates to the executive director the
					 authority to implement and carry out the purposes of this
					 chapter.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-312-4 - Fees

Current through June, 2024
The corporation shall charge the following program
					 fees:
(1) Application fee:
				  $5,000;
(2) Extension and
				  modification fee: $5,000;
(3)
				  Administrative fees:
(A) At bond issuance:
				  0.5 per cent or $100,000, whichever is less; provided that the minimum bond
				  issuance fee' shall be $50,000; and
(B) Annual fee: 0.125 per cent of the
				  permanent multi-family loan amount; and
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-312-5 - General requirements

Current through June, 2024
(a) In order to
				  qualify as an eligible project, a multi-family rental housing project must be
				  able to meet the following criteria:
(1) The
				  project must be financed by an eligible project loan approved by the
				  corporation;
(2) The project must
				  contain one or more similarly constructed units that are not designed to be
				  used on a transient basis (i.e. the units must include full kitchens and
				  bathrooms);
(3) The project must
				  maintain at least twenty per cent of the units as rentals for eligible
				  tenants;
(4) The project must be
				  maintained as a residential rental housing project continuously throughout the
				  qualified project period; and
(5)
				  The project must be subject to a regulatory agreement with the
				  corporation.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-312-6 - Compliance monitoring

Current through June, 2024
The corporation shall monitor the eligible project and the
					 qualified sponsor throughout the term of the eligible project loan to ensure
					 compliance with program requirements.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 2 - ELIGIBLE PROJECT LOAN FUNDING PROGRAM › Section 15-312-10 - Purpose

Current through June, 2024
The purpose of this program is to provide eligible project
					 loans to qualified sponsors by directly making or by contracting with eligible
					 project loan servicers to fund eligible project loans.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 2 - ELIGIBLE PROJECT LOAN FUNDING PROGRAM › Section 15-312-11 - Definitions

Current through June, 2024
As used in this subchapter and the procedural
					 handbook:
"Commitment letter" means the corporation's notice to a
					 qualified sponsor of the acceptance of the eligible project loan application
					 subject to the acceptance and conditions of the eligible project loan servicing
					 agreement, if applicable.
"Eligible project loan application" means an application
					 from a qualified sponsor, in such form as prescribed by the corporation,
					 requesting an eligible project loan.
"Eligible project loan servicer" means a mortgage lender or
					 its designee as approved by the corporation which has executed an eligible
					 project loan servicing agreement.
"Eligible project loan servicing agreement" means an
					 agreement among a qualified sponsor, an eligible project loan servicer, and the
					 corporation in a form as prescribed by the corporation to fund and service or
					 service an eligible project loan.
"Eligible project loan servicing agreement application"
					 means an application from an eligible project loan servicer, in such form as
					 prescribed by the corporation, requesting a contract with the corporation and
					 qualified sponsor to fund and service or service an eligible project loan to a
					 qualified sponsor.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 2 - ELIGIBLE PROJECT LOAN FUNDING PROGRAM › Section 15-312-12 - Process and procedures

Current through June, 2024
(a) Eligible
				  project loan applications and eligible project loan servicing agreement
				  applications shall be available at the principal office of the corporation.
(b) In order for a qualified
				  sponsor to submit an eligible project loan application, the qualified sponsor
				  shall also submit an eligible project loan servicing agreement application or
				  evidence satisfactory to the corporation or other servicing arrangements and
				  evidence that the eligible project has received a conditional commitment or
				  site appraisal and marketing analysis letter from the Federal Housing
				  Administration or similar commitment documents from other insuring or
				  guaranteeing agencies of the federal government or other evidence that the
				  eligible project loan meets the requirements specified in the procedural
				  handbook by the corporation for eligible project loans not insured or
				  guaranteed by the federal government.
(c) After receipt of eligible project loan
				  applications and other documents required in subsection (b), the corporation
				  shall, subject to terms and conditions as described in the procedural handbook,
				  issue its commitment letter to the qualified sponsor.
(d) The corporation shall establish such
				  restrictions, as deemed necessary, on the annual return to the qualified
				  sponsor, as described in the:
(1) Commitment
				  letter;
(2) Eligible project loan
				  servicing agreement; and
(3)
				  Procedural handbook.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 2 - ELIGIBLE PROJECT LOAN FUNDING PROGRAM › Section 15-312-13 - Selection of projects; criteria

Current through June, 2024
(a) In considering
				  a project application, the corporation shall determine whether the project
				  would provide affordable rental housing as well as address the needs of lower
				  income individuals and families. Preference shall be given, whenever
				  practicable, to those projects that treat housing problems in the context of
				  the total needs of the tenants and the community, recognizing that the
				  development of isolated housing units, without regard to the neighborhood and
				  the availability of support facilities, tends to create undesirable
				  consequences.
(b) In addition to
				  the program preferences referenced in this section, the corporation shall
				  evaluate projects in the following primary areas:
(1) Qualifications of applicant and
				  development team;
(2) Site
				  evaluation and land use characteristics;
(3) Environmental assessment; environmental
				  impact statement;
(4) Zoning,
				  subdivision, and permitting requirements;
(5) Financial, operational, and regulatory
				  compliance evaluation;
(6) Project
				  design;
(7) Tenant displacement and
				  relocation considerations;
(8)
				  Energy conservation and efficiency considerations;
(9) Target population and market conditions;
				  and
(10) Overall competitive
				  position, merit, and feasibility of the project.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 3 - LOANS TO LENDERS PROGRAM › Section 15-312-20 - Purpose

Current through June, 2024
The purpose of this program is to provide loans to mortgage
					 lenders to be used to make eligible project loans. The loan amount shall be
					 based on an agreement by mortgage lenders to originate a specified principal
					 amount of eligible project loans.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 3 - LOANS TO LENDERS PROGRAM › Section 15-312-21 - Definitions

Current through June, 2024
As used in this subchapter and the procedural
					 handbook:
"Lender loan application" means a mortgage lender's
					 application, in such form as may be prescribed by the corporation, to receive a
					 loan from the corporation for the purpose of making eligible project loans
					 pursuant to the terms of the loan agreement.
"Loan agreement" means an agreement between the corporation
					 and the mortgage lender, in such form as may be prescribed by the corporation,
					 which outlines the terms and conditions of the loan being made to the mortgage
					 lender for the purpose of making eligible project loans in accordance with the
					 procedural handbook.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 3 - LOANS TO LENDERS PROGRAM › Section 15-312-22 - Process and procedures

Current through June, 2024
(a) The corporation
				  will advertise that lender loan applications are available to mortgage lenders
				  at the principal office of the corporation at least thirty days prior to the
				  deadline for submission of such applications to the corporation.
(b) The corporation may consider, among other
				  things, in allocating the funds available for project loans:
(1) The financial condition of the mortgage
				  lenders who submitted lender loan applications;
(2) The demonstrated ability of the mortgage
				  lenders to act as makers and servicers of the eligible project loans;
				  and
(3) The eligible project loans
				  to be made by the mortgage lender.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 4 - ADVANCE COMMITMENTS PROGRAM › Section 15-312-30 - Purpose

Current through June, 2024
The purpose of this program is to allow the corporation to
					 purchase eligible project loans from mortgage lenders. The purchase shall be
					 based on an advance commitment by mortgage lenders to deliver a specified
					 amount of the eligible project loans to the corporation.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 5 - PURCHASE OF EXISTING LOANS PROGRAM › Section 15-312-40 - Purpose

Current through June, 2024
The purpose of this program is to provide funds to mortgage
					 lenders to be used to make eligible project loans. The funding shall be based
					 on an agreement by mortgage lenders to deliver a specified amount of existing
					 loans and mortgage lenders shall use the funds to originate eligible project
					 loans.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 6 - MISCELLANEOUS PROVISIONS › Section 15-312-50 - Yield on mortgage loans

Current through June, 2024
Mortgage loans financed, funded or made by the corporation
					 under this chapter shall bear interest at a rate which shall produce a yield to
					 the corporation on the mortgage loans sufficient to:
(1) Pay interest on the related issue of the
				  corporation's bonds;
(2) Provide
				  adequate reserves, if any, for the holders of the bonds; and
(3) Cover the operating costs of the
				  corporation of the program; provided the yield on the mortgage loans shall not
				  exceed the maximum allowed pursuant to Section 103(c) of the Internal Revenue
				  Code of 1954, as amended, or any successor statute thereto, and the applicable
				  regulations promulgated by the United States Department of the Treasury.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 312 - HULA MAE MULTI-FAMILY RENTAL HOUSING PROGRAM › Subchapter 6 - MISCELLANEOUS PROVISIONS › Section 15-312-51 - Waiver

Current through June, 2024
The corporation, by resolution, may waive or vary
					 provisions of these rules to conform to the requirements of applicable federal
					 requirements.