REPORT TITLE:
HCDCH; Elderly Housing


DESCRIPTION:
Authorizes the Housing and Community Development Corporation of
Hawaii to purchase River Street commercial property to build an
elderly housing rental project.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           523
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF
   HAWAII.



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

 1      SECTION 1.  The legislature finds that the State should act
 
 2 to provide sufficient and adequate rental housing for the
 
 3 elderly.  Currently, the State has an opportunity to provide
 
 4 elderly housing at 215 North King Street.  This location is ideal
 
 5 because the State owns the adjoining lot and a housing project
 
 6 would disperse any undesirable activity presently in the area.
 
 7 The purpose of this Act is to develop an elderly housing project
 
 8 at 215 North King Street, in Honolulu
 
 9      SECTION 2.  The housing and community development
 
10 corporation of Hawaii pursuant to sections 201G-9 and 201G-12, of
 
11 the Hawaii Revised Statutes, is authorized to purchase the real
 
12 property located at 215 North King Street, Honolulu, Hawaii, tax
 
13 map key no. 1-1-5-08: 001 and 011, for the purposes of developing
 
14 an elderly housing rental project.
 
15      SECTION 3.  The director of finance is authorized to issue
 
16 general obligation bonds in the sum of $        , or so much
 
17 thereof as may be necessary, for fiscal year 1999-2000, and the
 
18 same sum, or so much thereof as may be necessary, is authorized
 
19 for fiscal year 2000-2001; provided that the sums authorized does
 

 
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                                     S.B. NO.           523
                                                        
                                                        

 
 1 not exceed any bond ceiling set by law for the housing and
 
 2 community development corporation of Hawaii.
 
 3      SECTION 4.  The bonds issued for the land acquisition
 
 4 authorized under this Act shall not lapse at the end of the
 
 5 fiscal biennium for which the issuance is made; provided that all
 
 6 appropriations which are unencumbered as of June 30, 2002, shall
 
 7 lapse as of that date.
 
 8      SECTION 5.  The sums appropriated shall be expended by the
 
 9 housing and community development corporation of Hawaii for the
 
10 purposes of this Act.
 
11      SECTION 6.  This Act shall take effect on July 1, 1999.
 
12 
 
13                           INTRODUCED BY:  _______________________