Haw. Code R. § 15-164-22 - Project criteria for funding; minimum requirements
Affordable rental housing projects funded in whole or in part through loans under this program must meet the following criteria:
(1) At least twenty per cent of the units in
the project are rented to households with incomes of up to fifty per cent of
the area median income as determined by the U.S. department of housing and
urban development; or
(2) At least
forty per cent of the units are rented to households with incomes of up to
sixty per cent of the area median income, as determined by the U.S. department
of housing and urban development; or
(3) At least sixty per cent of the units must
be rented to households with incomes of up to one hundred forty per cent of the
area median income, as determined by the U.S. department of housing and urban
development; provided, however, that if there is an insufficient number of
persons or families who meet the income qualifying criteria for admission into
the housing project, the corporation may permit the developer to rent units to
higher income tenants in order to ensure full occupancy of funded
projects.
Notes
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