Bill > HB1470

This bill establishes the Small Housing Provider Grant Program within the Hawaii Housing Finance and Development Corporation to provide financial assistance to small multi-family property owners. The program defines eligible property owners as those with income at or below 150% of the median family income, owning buildings with two to fifty rental units. Property owners can apply for grants to fund renovations, repairs, and address unsafe living conditions. If approved, recipients must sign a five-year affordability covenant that limits rent and tenant income levels, and they must submit annual tenant income certifications. The corporation will have the authority to inspect properties and can require full repayment of the grant if the property owner violates the program's terms. The bill also includes an appropriation of funds for the program in fiscal years 2025-2026 and 2026-2027, though the specific dollar amount is not specified in the text. The program aims to support small property owners in maintaining and improving their rental properties while ensuring affordable housing options.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1470&year=2026