Janice Takahashi

Bring Workers Home
Hawaii Housing Finance & Development Corporation
October 12, 2010

Overview
Housing Need
HHFDC
Continuum of Housing Assistance
Financing Resources
Development Resources
2

Housing Need
Source: SMS Research, 2006 Hawaii Housing Policy Study
3

Housing Need
Source: SMS Research, 2006 Hawaii Housing Policy Study
4

HHFDC
Created by Act 196, SLH 2005
Need for 28,000+ housing units
Very tight housing market drives out those who can least afford to pay for housing; even moderate-income families
Burden of administering public housing has overshadowed the ability to pay sufficient attention to financing and developing housing
7

HHFDC
Mission:
To increase the supply of workforce and affordable housing by providing leadership, tools and resources to facilitate housing development.
8

Continuum of Housing
DHS
…..DHS….. …HPHA… …..HHFDC…..
9

Financing Resources
Interim Loans
Rental Assistance Revolving Fund
Dwelling Unit Revolving Fund (DURF)
Hula Mae Multi-Family Revenue Bonds -interim and permanent (HMMF)
Equity Financing
Low Income Housing Tax Credits (LIHTC)
Equity Gap
Rental Housing Trust Fund (RHTF)
Website: http://hawaii.gov/dbedt/hhfdc
10

Hale Wai Vista I, Waianae
Developer: HHDC
84 family units
30-50% HUD AMI
$23.2 million
DURF
LIHTC
RHTF
ARRA TCAP
11

Lokahi Apartments, Kona
Developer: Vitus Group
306 family units
30-60% HUD AMI
$62.6 million
HMMF
LIHTC
RHTF
12

Mortgage financing
Hula Mae Single Family
Mortgage Credit Certificate
13

Development Resources
Chapter 201H
Expedited land use approvals
Planning, zoning, subdivision, construction exemptions
Land
State land
Loans to acquire private land (DURF)
Website: http://hawaii.gov/dbedt/hhfdc
14

Villages of Kapolei, Oahu
15
888 acres
4,500homes at build-out
3,500 completed
$196.5M total development
HHFDC master developer
Private developers

Villages of Leiali'i, Maui
16

Kamakana Villages at Keahuolu, Hawaii
17
272 acres
Up to 2,300homes
Forest City Hawaii developer

Mahalo!
18
http://hawaii.gov/dbedt/hhfdc

Janice Takahashi

by National Housing Conference & the Center for Housing Policy on Oct 14, 2010

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Janice Takahashi — Presentation Transcript