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THE SENATE |
S.R. NO. |
114 |
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THIRTIETH LEGISLATURE, 2019 |
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STATE OF HAWAII |
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SENATE RESOLUTION
encouraging the hawaii housing finance and development corporation to reevaluate the rental assistance program.
WHEREAS, the state rental assistance program administered by the Hawaii Housing Finance and Development Corporation provides qualified rental project owners with monthly rental assistance subsidies to assist eligible tenants to make their rental payments; and
WHEREAS, the shallow, project-based rental assistance program subsidies have been effective in helping moderate income households at or below eighty percent of the area median income to afford their rent payments, while providing sufficient rental income to ensure that the rental project remains economically feasible; and
WHEREAS, over the rental assistance program's lifespan, rental assistance subsidies were provided for 1,437 units in seventeen affordable rental projects statewide; and
WHEREAS, however, as older project contracts have expired, and due to the lack of resources to enter into new project contracts, only ten projects remain in the program, with a total of 1,204 assisted units; and
WHEREAS, certain eligibility requirements related to the rental assistance program should be reevaluated to increase the number of low-income households with access to permanent affordable rental housing; now, therefore,
BE IT RESOLVED by the Senate of the Thirtieth Legislature of the State of Hawaii, Regular Session of 2019, that the Hawaii Housing Finance and Development Corporation is encouraged to reevaluate the rental assistance program; and
BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Executive Director of the Hawaii Housing Finance and Development Corporation.
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OFFERED BY: |
_____________________________ |
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Rental Assistance Program; Hawaii Housing Finance and Development Corporation