The department shall have the necessary powers to carry out the purposes of this chapter, including the following:

(1) With advice from the council, prescribe the qualifications for eligibility of applicants for loans and grants;

Terms Used In Hawaii Revised Statutes 210D-8

  • Community-based economic development: means a community institution-building process that results in community-based enterprises and other economic development activities which are designed and implemented by a community; consistent with a community's values, culture, and vision; and intended to increase community control over local resources and decision-making processes. See Hawaii Revised Statutes 210D-2
  • Community-based organization: means a nonprofit corporation incorporated in the State of Hawaii that is organized and controlled by either a geographic community, a community of identity, or a community of interest and that is directly involved in community-based economic development activities. See Hawaii Revised Statutes 210D-2
  • Council: means the community-based economic development advisory council. See Hawaii Revised Statutes 210D-2
  • Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 210D-2
(2) With advice from the council, establish preferences and priorities in determining eligibility for financial assistance;
(3) Establish the conditions, consistent with the purpose of this chapter, for the awarding of financial assistance;
(4) Provide for inspection at reasonable hours of facilities, books, and records of a community-based organization that has applied for or has been awarded financial assistance and require the submission of progress and final reports;
(5) Provide loans and grants for community-based economic development activities and community-based enterprises for purposes consistent with this chapter;
(6) Determine the necessity for and the extent of security required in a loan;
(7) Prescribe and provide appropriate management counseling and monitoring of business activities;
(8) Administer the Hawaii community-based economic development special fund;
(9) Include in its budget for subsequent fiscal periods amounts necessary to effectuate the purposes of this chapter;
(10) Participate in loans made to qualified persons by private lenders;
(11) Establish interest rates chargeable by the State for direct and participation loans; and
(12) Adopt rules pursuant to chapter 91 to implement this chapter.

  Previous
Next  
 Chapter 210D Contents