HOUSE OF REPRESENTATIVES

H.B. NO.

1575

TWENTY-EIGHTH LEGISLATURE, 2016

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS AND MAKING AN APPROPRIATION FOR THE PURCHASE OF EAST KAUAI WORKFORCE AFFORDABLE HOUSING.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  The legislature finds that the affordability requirement of Courtyards at Waipouli, a workforce housing project, expires in 2019.  Courtyards at Waipouli was built to satisfy an affordable housing zoning requirement to offset the impacts of the Kauai Lagoons development (now known as Hokuala), which was granted an entitlement for eight hundred fifty resort-residential units.  The county of Kauai has the first right of refusal to purchase the workforce units, which enables the units to be affordable to qualified families.

     The legislature further finds that if the county of Kauai does not purchase the units, and the units are allowed to be sold or rented at market rates, the county of Kauai will have eighty-two fewer units in its workforce housing inventory.  This would mean that the affordable housing inventory on Kauai's east side would shrink rather than grow.  Affordable housing is desperately needed on Kauai, especially on its east side, where the bulk of Kauai's population lives.  Families who currently reside in rented dwelling units at Courtyards at Waipouli at affordable rates will effectively be evicted by 2019.

     The legislature further finds that the county of Kauai and its people will benefit if the county achieves its goal of an ever-increasing inventory of workforce housing that is affordable in perpetuity.  While the county prefers to purchase Courtyards at Waipouli, the purchase of other properties on the east side of Kauai for use as affordable rental housing is a reasonable alternative, if circumstances render the purchase of Courtyards at Waipouli impossible.

     The purpose of this Act is to ensure the availability of affordable rental housing on the east side of the island of Kauai by:

     (1)  Authorizing the issuance of general obligation bonds; and

     (2)  Appropriating the moneys from the issuance of those bonds to the county of Kauai for the purchase of properties on the east side of the island of Kauai for use as affordable rental housing.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $5,000,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2016-2017 for the purpose of purchasing properties on the east side of the island of Kauai for use as affordable rental housing.

     SECTION 3.  This Act shall take effect on July 1, 2016.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Kauai County Council Package; Affordable Housing; GO Bonds

 

Description:

Authorizes the issuance of general obligation bonds.  Appropriates moneys to the county of Kauai to ensure the availability of affordable rental housing on the east side of the island of Kauai.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.