WHEREAS, the Hawaii Hurricane Relief Fund was established to provide insurance coverage to protect against property damage resulting from hurricanes; and

WHEREAS, one of the ways to minimize property damage is to establish a program to provide low cost loans to aid property owners to fortify their structures to minimize damage in the case of hurricanes; and

WHEREAS, such a program not only minimizes damage to the owner's building but provides added protection to the neighboring buildings that might be damaged by flying debris; and

WHEREAS, the Hawaii Hurricane Relief Fund also has an implied moral duty to develop programs to protect the citizens of Hawaii from personal injury as a result of hurricanes; and

WHEREAS, there is authority to provide these programs in section 431P-5(b)(17), Hawaii Revised Statutes, and related sections; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-third Legislature of the State of Hawaii, Regular Session of 2005, the Senate concurring, that the Hawaii Hurricane Relief Fund is encouraged to establish a low cost loan fund similar to that authorized under Act 118, Session Laws of Hawaii 1998, to enable homeowners to borrow funds at below market rates if they are unable to secure conventional funding, and to provide up to $20,000,000 under this program; and

BE IT FURTHER RESOLVED that the Hawaii Hurricane Relief Fund is also requested to set up a program to provide grants of up to $10,000,000 to homeowners in high risk zones on Kauai and Oahu that have experienced hurricane losses in past years so that the homeowners may fortify their structures against future hurricane losses; and

BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Chairperson of the Board of Directors of the Hawaii Hurricane Relief Fund.