Section 15-164-1 - Purpose This rule is adopted under chapter 91, HRS, and implements subpart III.C. of chapter 2016, HRS. The purpose of this program is to increase the number of safe and sanitary rental housing accommodations available at affordable rents in the State by:
(1) Assisting owners of rental housing accommodations in maintaining the rentals at levels affordable by families and individuals of low and moderate income through the provision of rental assistance payments which, with rentals received from tenants of low and moderate income, will provide the owners with limited but acceptable rates of return on their investment in rental housing accommodations; and(2) Providing a funding source for low-interest interim construction financing for the development of affordable rental housing by nonprofit and for-profit entities well as the corporation. [Eff OCT 25 1999] (Auth: HRS § 2016-225) (Imp: HRS §§ 2016-222, 2016-223, 2016-224, 2016-225)