Haw. Code R. § 15-164-21 - Interim construction program

Current through February, 2022

(a) Subject to the restrictions and funding limitations in section 2016-223, HRS, the corporation may use the aggregate principal sum and the accumulated earnings in the rental assistance revolving fund to provide interim construction financing to:
(1) Qualified sponsors of rental housing projects who are private nonprofit or for-profit entities; or
(2) The corporation; provided that in allotting interim construction financing moneys under this program, the corporation shall give a preference to rental housing projects developed by qualified sponsors who are private nonprofit or for-profit entities.
(b) Fund moneys used for this program shall be leveraged with bond proceeds for the development of affordable rental housing.

Notes

Haw. Code R. § 15-164-21
[Eff OCT 25 1999] (Auth: HRS § 2016-225) (Imp: HRS § 2016-223)

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