Loans offered for
‘affordable’ rentals
The Housing and Community Development Corp. of Hawaii is accepting applications for low-interest loans earmarked for "affordable" rental project development.
Applications are due March 1. Qualified private or public developers may apply for the funds, provided that at least 10 percent of their proposed unit mix is affordable to residents making 30 percent or less of the area's median income.
Additionally, at least 50 percent of the proposed unit mix must be affordable to people who make 60 percent or less of the median income.
The balance of rentals must be affordable to those making 100 percent or less of the median income.
The Rental Housing Trust Fund, created to provide assistance to rental housing developments, is administrated by the Housing Corp.'s board of directors and an advisory commission.
For more information, call the state Department of Human Services at 586-4882.