Ige signs bill in effort to ease affordable housing crisis
Providing affordable rental housing has been a top priority for Hawaii lawmakers and with the signing of House Bill 1312 by Governor David Ige today, the state has move a step closer to that goal.
HB1312 HD1 SD1 CD1 authorizes the issuance of general obligation bonds and appropriates $50 million each in 2019 and 2020 into the Rental Housing Revolving Fund. This is in addition to the $35 -$38 million from the conveyance tax that is placed annually into the RHRF, bringing the total appropriation to about $170 million for two fiscal years.
"By passing and signing this bill the Legislature and the Governor continue their resolve to address Hawaii's affordable rental housing crisis for the whole spectrum of local households," said House Majority Leader Della Au Belatti.
"We now look forward to working with the state housing agencies and developers to get projects moving through the pipeline and built for our residents."