Section 15-23-87 - Requirement of providing reserved housing units(a) Every applicant for a development containing multi-family dwelling units on a development lot of at least 20,000 square feet shall provide at least twenty per cent of the total number of dwelling units in the development for sale or rental to qualified persons as determined by the authority.(b) The units, hereinafter referred to as "reserved housing units", shall be sold or rented to persons qualifying under the terms and conditions set forth under subchapter 7 of chapter 15-22. The applicant shall execute agreements as are appropriate to complement this requirement, and the agreements shall be binding upon the applicant and the applicant's successors in interest, and shall run with the land. The agreement shall provide that the applicant must provide certification to the authority as to the compliance of the requirements herein.(c) The reserved housing requirements shall be satisfied in accordance with section 15-22-115.(d) No building permit shall be issued for any development until the authority has certified that the development complies with the requirements of this section. The authority may require guarantees, may enter into recorded agreements with developers and with purchasers and tenants of the reserved housing units, and may take other appropriate steps necessary to assure that these housing units are provided and that they are continuously occupied by qualified persons. When this has been assured to the satisfaction of the authority and it has determined that the proposed development meets the requirements and standards of this section, the authority shall certify the application approved as to the housing requirements of this section.[Eff and comp 11/3/05] (Auth: HRS §§ 206E-4, 206E-5, 206E-7) (Imp: HRS §§ 206E-4, 206E-5, 206E-7)