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Committee clears Kakaako condominium bill with tighter resale and income-restriction language
Summary
The committee approved SB2061 SD2 HD1 to clarify resale restrictions and income-targeting for a Kakaako condominium project, requiring 60% of units to be income-restricted under the authority’s rules and specifying a 10-year restriction period; HCDA discussed buyback formula references.
The House Housing Committee on March 25 voted to pass SB2061 SD2 HD1 with amendments that clarify income restrictions and resale rules for a specific Kakaako condominium project and similar future projects.
Chair members said the revised HD1 language makes the bill's intent clearer: 60% of units will be…
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