To: Senator David Y. Ige, Chair Ways and Means Committee, Senator Michelle N. Kidani, Vice Chair Ways and Means Committee, Members Ways and Means Committee, Representative Sylvia Luke, Chair Finance Committee, Representative Aaron Ling Johan...
Support Affordable Housing
The Legislature has a strong record of supporting affordable housing in Hawaii and we thank you for your support. We are writing to ensure that affordable housing continues to be a top priority for legislators. Specifically, we request that the Legislature consider the following options to increase funding for affordable housing:
• Restoring 50% of the conveyance tax proceeds to the Rental Housing Trust Fund (RHTF) to build more affordable rental units.
• General fund allocations and bonds for the RHTF
The RHTF is a proven mechanism to build truly affordable rental housing in Hawaii. As of June 30, 2013, 4,567 affordable rental units statewide have been created or are underway with the assistance of the RHTF and other leveraged funding. We understand that your committees have a difficult job ahead of you, and that you must weigh the merits of many important priorities. As you move into your final deliberations, we ask that you please consider the long term benefits of affordable housing development – not only to reduce homelessness in our state, but also as an economic driver that creates jobs for our community.
• Restoring 50% of the conveyance tax proceeds to the Rental Housing Trust Fund (RHTF) to build more affordable rental units.
• General fund allocations and bonds for the RHTF
The RHTF is a proven mechanism to build truly affordable rental housing in Hawaii. As of June 30, 2013, 4,567 affordable rental units statewide have been created or are underway with the assistance of the RHTF and other leveraged funding. We understand that your committees have a difficult job ahead of you, and that you must weigh the merits of many important priorities. As you move into your final deliberations, we ask that you please consider the long term benefits of affordable housing development – not only to reduce homelessness in our state, but also as an economic driver that creates jobs for our community.
Why is this important?
Do you want to end homelessness? Do you have family or friends struggling to pay rent? Do you want the State to work towards a Hawaii where all can be safely and securely housed? Hawaii needs more affordable housing and NOW is the time to take action.
Recently, the National Low Income Housing Coalition released a report finding that while Hawaii has the highest rents in the nation, the median hourly wage of a Hawaii renter is only $13.86 – less than half of what is needed to afford a 2-bedroom unit at Fair Market Rent. Housing is simply not affordable in Hawaii and more needs to be done.
Recently, the National Low Income Housing Coalition released a report finding that while Hawaii has the highest rents in the nation, the median hourly wage of a Hawaii renter is only $13.86 – less than half of what is needed to afford a 2-bedroom unit at Fair Market Rent. Housing is simply not affordable in Hawaii and more needs to be done.