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Finance Committee approves forwarding of $8.1M in outside AHP grants, keeps deed restrictions and reporting requirements
Summary
The Hawaii County Finance Committee voted to forward Resolution 38425, authorizing Affordable Housing Production Fund awards to four organizations totaling $8.1 million for external projects and additional internal programs; members asked housing staff for detailed budgeting and reporting on lapsed appropriations.
The Hawaii County Finance Committee on finance voted to forward Resolution 38425 to full council with a favorable recommendation, authorizing awards from the Affordable Housing Production Fund to four organizations and retaining deed restrictions on units.
Under the resolution, the Office of Housing and Community Development proposed awards including $3,000,000 to Hoamalu at Waikoloa LP for multifamily development, $200,000 to Housing and Land Enterprise of Hawaii for single-family development, $4,100,000 to Hawaiian Community Assets for property acquisition and rent-to-own opportunities, and $790,100 to Hawaii Community Lending for deferred-payment loans supporting homeownership.
Royce Shiroma of the Office of Housing and Community Development told the committee, “This resolution goes hand in hand with the appropriation, the bill 105,” and emphasized that awards are contingent on applicants securing required additional funding and on encumbrance before the fiscal year ends so money does not lapse.
Zara Nicholson, director of finance at Hawaiian Community Assets, described the rent-to-own model and outreach to current residents: “When we acquire this building, we will provide the option to opt into this program. At that point, we will then work with them for up to 2 years to purchase their unit.” She said housing counseling and qualification support would be provided.
Committee members repeatedly requested more public tracking and project-level detail. Councilmember Kerkowitz asked for a spreadsheet of projects, units completed and pipeline deliveries; Finance Director Diane Nakagawa said appropriations that were not encumbered by June 30 lapse and must be reappropriated, but that applicants who had been selected in an RFP do not have to reapply to receive reappropriated funds. Nakagawa told the committee, “If contracts are not encumbered, then the funding does go back into AHP,” and described the reappropriation process.
Members also pressed staff on deed restrictions and accountability. The Office of Housing confirmed deed restrictions will be placed on units acquired through Hawaiian Community Assets and that proceeds from resales would revolve back into future projects.
The committee voted to forward the resolution; the clerk recorded eight in favor with one member absent. The resolution will next be considered by the full Hawaii County Council.
