Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Human Services and Housing, to which was referred S.B. No. 2926, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to facilitate the development or rehabilitation of affordable rental housing projects by increasing the bond authorization amount under the Hula Mae Multi-Family Rental Housing Program (Housing Program).

The Housing and Community Development Corporation of Hawaii (HCDCH) and Department of Community Services of the City and County of Honolulu testified in support of this measure.

Your Committee recognizes that a substantial need exists for affordable rental housing throughout the State, with an ever-increasing demand on limited resources available to finance the development or rehabilitation of such housing. Your Committee finds that increasing the bond authorization limit for HCDCH will assist in the development of badly-needed housing units under the Housing Program.

Your Committee has amended this bill by:

As affirmed by the record of votes of the members of your Committee on Human Services and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2926, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2926, S.D. 1, H.D. 1, and be referred to the Committee on Finance.