New Kakaʻako affordable housing rules set
The Hawaiʻi Community Development Authority’s board approved the 10-year buyback. That was the only major change from the prior set of comprehensive rules approved by the board.
The board voted 7-1 with member Wei Fang dissenting.
Affordable housing advocates, including the Hawaiʻi Appleseed Center for Law & Economic Justice, had urged the board to stick with 30 years.
“An affordability period of 30 years is critical to preserving affordable housing stock created by the Kakaʻako reserved housing requirements,” the organization said in written testimony. “The requirement is modest and workable—many jurisdictions require 60, or even 99 years.”