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Officials reject loaning buyer money

By Star-Advertiser staff

POSTED: 01:30 a.m. HST, Jan 09, 2014

~~<p>Monday&rsquo;s agreement by city officials and representatives of Honolulu Affordable Housing Partners LLC to continue negotiations on a $142 million sale of the lease interest in 12 city affordable complexes was contingent on the city&rsquo;s willingness to discuss the possibility of &ldquo;seller financing&rdquo; to help the buyers.</p>
<p>City officials on Wednesday said they are considering the possibility of allowing the group to hold off paying on a portion of the sale price to the city, and emphasized they are not looking at lending the buyer any money, or allowing the partners to leverage the city&rsquo;s credit to gain financing.</p>
~~

Monday’s agreement by city officials and representatives of Honolulu Affordable Housing Partners LLC to continue negotiations on a $142 million sale of the lease interest in 12 city affordable complexes was contingent on the city’s willingness to discuss the possibility of “seller financing” to help the buyers.

City officials on Wednesday said they are considering the possibility of allowing the group to hold off paying on a portion of the sale price to the city, and emphasized they are not looking at lending the buyer any money, or allowing the partners to leverage the city’s credit to gain financing. Login for more...



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