HB2078

Report Title:

Public Housing; Renovation; General Obligation Bonds

 

Description:

Authorizes the issuance of general obligation bonds to renovate public housing units in the State. Provides for appropriated funds to be expended by the housing and community development corporation of Hawaii.

HOUSE OF REPRESENTATIVES	H.B. NO.	2078
TWENTY-FIRST LEGISLATURE, 2002
STATE OF HAWAII

A BILL FOR AN ACT

 

relating to housing.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that there is an urgent need to increase the State's affordable housing inventory. Public housing in Hawaii is deteriorating rapidly due to "deferred maintenance", and many units are empty. The legislature finds that general obligation bonds should be used to repair affordable housing, with a first priority to renovate and rent the empty units. These renovated empty units could be offered to homeless families who are currently living in shelters or transitional housing, which in turn would allow other homeless families to get into shelters. The legislature finds that this program will create employment opportunities, repair housing, and provide increased housing for Hawaii's homeless families.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $ , or so much thereof as may be necessary, and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2002-2003, to finance the cost of plans, design, construction, and equipment for the renovation, repair, improvement, and rehabilitation of existing public and other low-income housing units in the State.

SECTION 3. The appropriations made for capital improvement projects authorized in this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all appropriations which are unexpended and unencumbered as of June 30, 2005, shall lapse as of that date.

SECTION 4. The sums appropriated shall be expended by the housing and community development corporation of Hawaii for the purposes of this Act.

SECTION 5. This Act shall take effect on July 1, 2002.

INTRODUCED BY:	_____________________________