Haw. Code R. § 15-216-36 - First option to purchase

If the owner of a reserved housing unit wishes to sell the unit during the regulated term, the authority or an entity approved by the authority shall have the first option to purchase the unit. The purchase price shall be based on the lower of:

(1) The current fair market price of the reserved housing unit as determined by the authority less the authority's share of equity in the unit as determined by section 15-216-41 (equity sharing requirements); or

(2) The reserved housing unit price calculated based on the AMI at the time of sale of the unit.

Notes

Haw. Code R. § 15-216-36

[Eff OCT 27 2012] (Auth: HRS §§ 206E-4, 206E-5, 206E-7) (Imp: HRS §§ 206E-4, 206E-5, 206E-7)