Section 15-321-11 - Project criteria for funding; minimum requirementsQualified housing projects funded in whole or in part through loans from the fund must meet one of the following criteria in descending order of priority:
(1) Affordable for-sale projects or units in projects that are funded by programs of the United States Department of Housing and Urban Development, the United States Department of Agriculture Rural Development, and the United States Department of the Treasury Community Development Financial Institutions Fund, wherein: (A) At least fifty per cent of the available units are reserved for persons and families having incomes at or below eighty per cent of the United States Department of Housing and Urban Development area median family income and of which at least five per cent of the available units are for persons and families having incomes at or below fifty per cent of the United States Department of Housing and Urban Development area median family income; and(B) The remaining units are reserved for persons and families having incomes at or below one hundred twenty per cent of the United States Department of Housing and Urban Development area median family income; or(2) Mixed-income affordable for-sale housing projects or units in a mixed-income affordable for-sale housing project wherein all of the available units are reserved for persons and families having incomes at or below one hundred per cent of the United States Department of Housing and Urban Development area median family income.[Eff 11/27/2023] (Auth: HRS §§ 201H-4, 201H-206) (Imp: HRS § 201H-206)