Section 15-321-12 - Affordable homeownership revolving fund; allowable uses(a) The fund may be used to provide loans for the development of affordable for-sale projects that meet the minimum criteria for eligibility set forth in section 15-321-11. Additionally, an amount from the fund may be used to pay for administrative expenses incurred by the corporation in administering the fund.(b) Activities and costs eligible for assistance from the fund shall include, but are not limited to: (3) Land acquisition, including the costs of options, agreements of sale, and down payments;(5) Equity financing as matching funds to obtain other sources of private or public financing;(6) New construction or rehabilitation of housing units;(7) Acquisition of housing units for the purpose of preservation as affordable housing; and(8) Pre-development costs; provided that loans for predevelopment costs are limited to only one loan per project.[Eff 11/27/2023] (Auth: HRS §§ 201H-4, 201H-206) (Imp: HRS § 201H-206)