STAND. COM. REP. NO. 2918

Honolulu, Hawaii

RE:    H.B. No. 2448

       H.D. 2

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Madam:

     Your Committee on Human Services, to which was referred H.B. No. 2448, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION,"

begs leave to report as follows:

     The purpose and intent of this measure is to allow the Hawaii Housing Finance and Development Corporation to issue bonds to finance infrastructure development on land owned by an eligible developer whose housing project approval by the State or county requires the construction of affordable housing.

     Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism; Hawaii Housing Finance and Development Corporation; Chamber of Commerce Hawaii; and The Pacific Resource Partnership.

     Your Committee finds that the lack of available land with infrastructure is a significant barrier to the State's critical need for affordable housing.  Your Committee further finds that it is important and valuable to finance the infrastructure improvements necessary for affordable housing developments and that this measure provides one mechanism for financing these improvements.

     As affirmed by the record of votes of the members of your Committee on Human Services that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2448, H.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Human Services,

____________________________

SUZANNE CHUN OAKLAND, Chair