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Housing Commission pivots funding strategy to boost affordable homes

September 16, 2024 | Hawaiian Home Lands (DHHL), Department of, Executive , Hawaii


This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Housing Commission pivots funding strategy to boost affordable homes
In a recent government meeting, officials discussed the allocation of $2.4 million from the D Chichao Trust Fund for fiscal year 2024, aimed at acquiring and rehabilitating properties, specifically the Courtyards at Waipoli. The commission is pursuing alternative funding options after an initial application for low-income housing tax credits (LIHTC) was deemed unlikely to succeed. The project aims to provide affordable housing solutions, with a focus on serving a broader range of income levels, including those earning up to 100% of the area median income.

The meeting highlighted the importance of establishing management agreements with service providers to ensure compliance with funding requirements and to address the needs of beneficiaries. The commission previously approved the use of NAHASDA (Native American Housing Assistance and Self-Determination Act) funds for housing construction in Anahola, with ongoing projects utilizing these funds effectively.

A significant change discussed was the introduction of a qualified nonprofit entity to facilitate communication between beneficiaries and developers, aiming to prevent issues experienced in past projects. This nonprofit will advocate for community residents and ensure their interests are prioritized throughout the development process.

Commissioners expressed concerns about the previous LIHTC project's challenges and emphasized the need for a structured approach to avoid repeating past mistakes. The meeting concluded with a consensus on the necessity of adapting funding strategies to better serve the community's housing needs while maintaining financial viability.

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Scribe from Workplace AI
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