Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 117, H.D. 2, entitled:

begs leave to report as follows:

The purpose of this bill is to promote the development of affordable housing in West Maui by allowing affordable housing requirements for certain undeveloped parcels of land in Pu'ukoli'i Village to be established by agreement among the developer, the Housing and Community Development Corporation of Hawaii (HCDCH), and the appropriate Maui county agency. In addition, this bill establishes that the affordable housing requirement shall include housing that is affordable to households earning up to 100 percent of the county median income.

The Kaanapali Development Corp. testified in support of this bill. HCDCH supported the intent of this measure.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 117, H.D. 2, and recommends that it pass Third Reading.