STAND. COM. REP. NO. 1197

Honolulu, Hawaii

RE:    S.C.R. No. 143

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred S.C.R. No. 143 entitled:

"SENATE CONCURRENT RESOLUTION URGING THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION TO WORK WITH HOUSING STAKEHOLDERS AND OTHER STATE AND COUNTY AGENCIES TO EVALUATE AND UPDATE THE RENTAL HOUSING REVOLVING FUND PROGRAM'S POLICIES AND PROCEDURES AND REINSTATE THE PREDEVELOPMENT LOAN PROGRAM,"

begs leave to report as follows:

     The purpose and intent of this measure is to urge the Hawaii Housing Finance and Development Corporation to work with housing stakeholders and other state and county agencies to evaluate and update the rental housing revolving fund program's policies and procedures and reinstate the predevelopment loan program.

     Your Committee received comments on this measure from the Hawaii Housing Finance and Development Corporation.

     Your Committee finds that a lack of affordable housing, compounded by rising home prices and rental costs, is a significant and challenging problem throughout Hawaii.  Your Committee further finds that incentivizing and facilitating the construction of new units are vital to addressing the shortage of affordable housing.  Your Committee additionally finds that the rental housing revolving fund program and predevelopment loan program provide much-needed funds for the development, construction, acquisition, and associated costs borne by developers and owners of affordable housing units.

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 143 and recommends that it be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Housing,

________________________________

WILL ESPERO, Chair