(a) The authority shall establish requirements for reserved housing units financed by an eligible loan, and may consider, but not be limited to the location, age, condition, and other characteristics of the reserved housing units.

Terms Used In Hawaii Revised Statutes 206E-102

  • Authority: means the Hawaii community development authority. See Hawaii Revised Statutes 206E-101
  • Eligible loan: means a loan to an eligible borrower for the purchase of a reserved housing unit; provided that the property financed is located in the community development district, is and will be occupied as the principal place of residence by the eligible borrower, and meets other requirements as established by rules adopted by the authority. See Hawaii Revised Statutes 206E-101
  • Reserved housing: means housing designated for residents in the low- or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rule. See Hawaii Revised Statutes 206E-101
(b) The authority shall establish restrictions on the terms, maturities, interest rates, collateral, and other requirements for eligible loans.
(c) All eligible loans made shall comply with applicable state and federal laws.

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