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HCDA board authorizes deferral of shared‑equity payment for Rycroft Terrace unit
Summary
The Hawaiʻi Community Development Authority board voted Dec. 3 to authorize a staff request to defer a shared‑equity payment for Rycroft Terrace Unit 534 after the unit owner’s death; the owner’s son, living in the unit, confirmed he will assume mortgage and association dues and the deferral will end if the unit is later transferred or sold.
The Hawaiʻi Community Development Authority’s Kakaako Authority on Dec. 3 authorized the executive director to defer payment of shared equity owed on Rycroft Terrace Unit 534 following the death of the unit owner.
Asset manager Lynn Badoy told the board the unit passed through probate about a year ago and the owner’s son — named in staff…
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