Bill Text: HI HB2069 | 2016 | Regular Session | Amended
Bill Title: Future Caucus; Community Improvement District; Revolving Fund; Pilot Project ($)
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2016-03-23 - The committee on HOU deferred the measure. [HB2069 Detail]
Download: Hawaii-2016-HB2069-Amended.html
|
HOUSE OF REPRESENTATIVES |
H.B. NO. |
2069 |
|
TWENTY-EIGHTH LEGISLATURE, 2016 |
H.D. 2 |
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO COMMUNITY IMPROVEMENT DISTRICTS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that a lack of affordable housing has begun to exacerbate high housing costs and has begun to leave Hawaii's residents without a place to call home. It is estimated that more than six thousand new units are needed annually to keep pace with current demand.
The legislature also finds that the Kapalama and Iwilei areas are ideal for a 21st century community that encourages walking, biking, and rail transit in close proximity to the urban core. The San Antonio Riverwalk and Denver's 16th Street pedestrian mall, featuring mixed-use restaurants, commercial spaces, and residences along pedestrian and bike-friendly promenades, have proven a popular and successful way to create people-friendly communities to house local residents in an urban setting. These successes can also apply here.
With rail transit soon to come through the area, interest rates at an advantageous low, and the growing need for affordable rental housing, the legislature finds that aligning state and county goals to create an attractive and affordable community in a reasonable timespan is a top priority.
The purpose of this Act is to establish community improvement districts as an innovative means of accelerating appropriate development in certain areas of the State.
SECTION 2. The Hawaii Revised Statutes is amended by adding a new chapter to be appropriately designated and to read as follows:
"Chapter
community improvement districts
§ -1 Community improvement districts; established. Community improvement districts shall be established according to the following:
(1) The legislature, by law, shall establish a community improvement district;
(2) Upon the designation of a community improvement district by the legislature, state departments and agencies shall coordinate with the respective county to reach the goals and requirements of the community improvement district;
(3) A county in which there is established a community improvement district shall prioritize the issuing of permits and other actions as necessary to meet the goals and requirements of the community improvement district;
(4) A county in which there is established a community improvement district shall consider forms of innovative financing such as establishing community facilities districts, pursuant to section 46-80.1, within all or part of a community improvement district to meet the goals and requirements of the community improvement district;
(5) The department of accounting and general services may provide innovative loan financing as appropriate from the community improvement district revolving fund to assist a county or third party in meeting the goals and requirements of a community improvement district; and
(6) The department of accounting and general services, in consultation with counties in which there are established any community improvement districts, shall report to the legislature no later than December 1 of the year preceding each legislative session on the following:
(A) State and county plans to coordinate with each other in meeting the goals and requirements of the community improvement districts; and
(B) Updates on the progress in meeting the goals and requirements of a community improvement district.
§ -2 Community improvement district revolving fund. (a) There shall be established in the treasury of the State a revolving fund to be known as the community improvement district revolving fund, which shall be administered by the department of accounting and general services.
(b) The revenues of the revolving fund shall consist of:
(1) Funds received by the department from the counties for the repayment of any loan principal and the payment of simple interest from the various assessments or fees from community facilities districts, special improvement districts, improvement districts, tax increment financing, and other sources;
(2) Appropriations from the legislature or counties;
(3) Federal grants and subsidies to the State or counties;
(4) Private investor contributions; and
(5) Grants and donations.
(c) The department shall expend revenues in the fund to:
(1) Make loans to counties, state agencies, or private developers for the costs, in whole or in part, of the planning, design, or construction of infrastructure improvements that meet the goals and requirements of a community improvement district; and
(2) Repay private investors for their investment plus any interest accrued on their investments made into the fund.
(d) The department shall adopt rules in accordance with chapter 91 for the purposes of this section."
SECTION 3. (a) There shall be established the Kapalama community improvement district pilot project, which shall be bounded by Waiakamilo Road, North King Street, River Street, and North Nimitz Highway.
(b) District goals within the Kapalama community improvement district shall be the construction of a minimum of six thousand new housing units of which at least fifty per cent shall be affordable rental units and at least twenty-five per cent shall be affordable fee simple units.
(c) The transit infrastructure within the Kapalama community improvement district shall have a primary focus on pedestrian, bicycle, and public transit.
(d) A pedestrian and bicycle transit corridor shall connect Kapalama Canal with Fort Street Mall, providing safe and comfortable pedestrian and bicycle transit to the downtown core.
(e) The department of accounting and general services and the city and county of Honolulu shall complete public infrastructure improvements within the Kapalama community improvement district in order that units may be occupied by not later than July 1, 2022.
(f) Not less than twenty days prior to the convening of each regular session, the department of accounting and general services, in cooperation with the city and county of Honolulu, shall submit a report to the legislature that shall include the following:
(1) The progress toward obtaining private investment financing into the community improvement district revolving fund;
(2) Recommendations for other innovative funding opportunities; and
(3) Recommendations for reasonable public capitalization for the community improvement district revolving fund.
SECTION 4. This Act shall take effect on July 1, 2030.
Report Title:
Future Caucus; Community Improvement District; Revolving Fund; Pilot Project
Description:
Establishes a community improvement districts program with a revolving fund, and a pilot project in Kapalama. (HB2069 HD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
