Hawaii Revised Statutes 206E-4.2 – Reserved and workforce housing units; transfer to qualified nonprofit housing trust
Current as of: 2024 | Check for updates
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Terms Used In Hawaii Revised Statutes 206E-4.2
- Authority: means the Hawaii community development authority established by section 206E-3. See Hawaii Revised Statutes 206E-2
- Qualified nonprofit housing trust: means a corporation, association, or other duly chartered organization that is registered and in good standing with the State; is recognized by the Internal Revenue Service as a charitable or otherwise tax-exempt organization under section 501(c)(3) of the Internal Revenue Code of 1986, as amended; and has the capacity and resources as determined by the authority to carry out the requirements of the reserved housing and workforce housing programs. See Hawaii Revised Statutes 206E-2
- Reserved housing: means housing designated for residents in the low-income or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rule. See Hawaii Revised Statutes 206E-2
- Workforce housing: means new residential projects where at least seventy-five per cent of the residential units are set aside for purchase or rent for residents in the low-income or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rules and that do not require financial assistance for design and construction from federal, state, or county government agencies. See Hawaii Revised Statutes 206E-2