POSTED: 09:46 p.m. HST, Oct 02, 2012
The City Council Budget Committee advanced tonight four resolutions needed for the city to sell 12 affordable-housing properties to a private developer.
Committee members, however, said they do not want a final vote on the measures before the full City Council at its meeting Wednesday as originally planned.
The measures are needed to seal an agreement to issue a 65-year lease for the 12 complexes to the private Honolulu Affordable Housing Partners LLC. The city would get $142 million in cash and an additional $42 million in improvements at those properties.
Council Budget Chairwoman Ann Kobayashi said she and colleagues want assurances that no one living in the units is displaced as a result of rent increases.
The extra time will allow the Carlisle administration and HAHP officials time to gather information requested by Council members, including plans by HAHP to give away three of the least profitable properties to nonprofit companies.