Rep. McKelvey's bill protects, expands home options for low income
residents
The House today moved to ensure the continued availability of
affordable rental housing on Maui, including the Front Street Apartments
project and the Leialiʻi
affordable housing project,
by passing HB543
HD1 SD1 CD1.
Representative Angus L.K.
McKelvey (West Maui, Mā‘alaea, North Kīhei), who was one of the bill's
introducers, said it is critical to protect the limited affordable housing available
on Maui.
"Low income families and
the elderly need homes that are both affordable and secure," said
McKelvey. "The Front Street Apartments were built using state financing with
142 affordable units and very nearly were moved to market rates. Lawmakers
intend to make sure these homes remain affordable."
The bill directs the Hawaiʻi Housing Finance and
Development Corporation to initiate negotiations and exercise its power of
eminent domain to acquire the Front Street Apartments unless the ground lease
is renegotiated or a new lease is issued by December 31, 2019.
In addition, the
bill appropriates $37 million from the Rental Housing Revolving Fund for fiscal year
2019-2020 to expedite and complete the construction of Leialiʻi affordable housing project in Lahaina by
2022.
"With the cost of buying a home out of reach for many people, lawmakers know how important it is to support affordable housing," said Rep. McKelvey.
No comments:
Post a Comment