Section 15-164-21 - Interim construction program(a) Subject to the restrictions and funding limitations in section 2016-223, HRS, the corporation may use the aggregate principal sum and the accumulated earnings in the rental assistance revolving fund to provide interim construction financing to: (1) Qualified sponsors of rental housing projects who are private nonprofit or for-profit entities; or(2) The corporation; provided that in allotting interim construction financing moneys under this program, the corporation shall give a preference to rental housing projects developed by qualified sponsors who are private nonprofit or for-profit entities.(b) Fund moneys used for this program shall be leveraged with bond proceeds for the development of affordable rental housing. [Eff OCT 25 1999] (Auth: HRS § 2016-225) (Imp: HRS § 2016-223)