STAND. COM. REP. NO. 2216

Honolulu, Hawaii

RE: S.B. No. 2870

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Housing, to which was referred S.B. No. 2870 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose and intent of this measure is to establish a working group within the Hawaii Housing Finance and Development Corporation to identify existing mixed-use developments in Maui County that could be acquired by the Hawaii Housing Finance and Development Corporation.

Your Committee received testimony in support of this measure from the Hawaii Housing Finance and Development Corporation and one member of the Maui County Council.

Your Committee received comments on this measure from the Office of Planning and Sustainable Development.

Your Committee finds that there is an urgent need to increase affordable housing supply within the State. Housing is especially needed on Maui amid the ongoing redevelopment efforts. This measure will help identify specific existing developments to increase Maui's affordable housing supply and support its redevelopment efforts.

Your Committee has heard the concerns raised in testimony that this measure, as currently written, lacks funding to allow the Hawaii Housing Finance and Development Corporation to negotiate and follow through to acquire the prospective affordable housing developments. Your Committee finds that these issues and concerns merit further consideration by future Committees who may choose to hear this measure as it advances through the legislative process.

As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2870 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Housing,

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STANLEY CHANG, Chair