2020 Hawaii Revised Statutes
Title 13. Planning and Economic Development
206E. Hawaii Community Development Authority
206E-4.2 Reserved and workforce housing units; transfer to qualified nonprofit housing trust.
§206E-4.2 Reserved and workforce housing units; transfer to qualified nonprofit housing trust. (a) Notwithstanding any law to the contrary, the authority may authorize a designated qualified nonprofit housing trust to administer the covenants and rules related to the reserved housing and workforce housing programs. Additionally, the authority may waive its right to repurchase a reserved or workforce housing unit during the restriction period and may transfer that right of repurchase to a qualified nonprofit housing trust for the purpose of maintaining the reserved or workforce housing unit as an affordable housing unit. If the repurchase rights are transferred to a qualified nonprofit housing trust, the restrictions prescribed in this chapter or in rules adopted by the authority shall be automatically extinguished and shall not attach in subsequent transfers of title; provided further that the qualified nonprofit housing trust shall establish new buyback restrictions for the purpose of maintaining the unit as affordable for as long as practicable, or as otherwise required by the authority.
(b) A qualified nonprofit housing trust shall report the status and use of its housing units to the authority by November 30 of each calendar year. [L 2017, c 159, §2]
