Post by Admin on Dec 7, 2023 23:01:38 GMT
1. CPR Task Force meeting - although it is still not up on the State's calendar and has not been formally announced, it appears that the next Condominium Property Regime Task Force meeting will be a week from today, Thursday, December 14, 2023, from 1:30 to 4:30 p.m. at the Capitol Building in room 430. Please mark these in your calendar. The Zoom details should be posted in the agenda when this meeting is put on the State calendar, calendar.ehawaii.gov/calendar/. Please review that agenda for details. The Task Force agreed that the main subject matter will be the contents of the Interim Report that must be made to the Legislature on/before December 28, 2023. Based on discussions during the last meeting, the Interim Report will focus on concerns that the Task Force encourages the Legislature to have examined/studied/investigated by the State Auditor (personally, I think we need an independent investigator because our problems are beyond the scope of the State Auditor).
2. New C&C of Honolulu ordinance. The following is an excerpt of a City and County of Honolulu announcement made yesterday; the full announcement may be seen at www.honolulucitycouncil.org/mediareleases/appointments-bills-and-notable-resolutions-adopted-at-the-honolulu-city-councils-full-council-meeting-on-december-6-2023nbsp. Please click on the Bill number to review the actual ordinance which has relevance to "green" projects.
"Bill 56 (2023), CD1, FD1 – This bill will allow the City to enter into a formal agreement with the State’s Hawai‘i Green Infrastructure Authority to establish a commercial PACE financing program within the City. The program would allow commercial property owners, including condominium associations, to access longer-term financing options for property improvements meeting certain criteria.
STATEMENTS:
“I am encouraged by the passage of this measure. I believe that the Commercial Property Assessed Clean Energy Financing Program (C-PACE) could be an extremely valuable tool for many property owners throughout the City. The ability to finance property improvements over a longer period of time will allow more of our small businesses to invest in energy improvements to help reduce costs over time and enable condominium owners to install critical fire sprinkler infrastructure to address health and safety issues in our older buildings. We have to find a way to make these improvements pencil out for our residents, and I believe this is one way we might do that.” - Council Chair Tommy Waters, and Co-Introducer
“C-PACE is a financing program that will allow property owners to apply for long-term loans that spread costs out over time at more favorable rates, making it easier for property owners and small businesses to upgrade their infrastructure. The program will make things like installing solar or converting to septic more affordable and accessible for our community.” - Councilmember Matt Weyer, Co-Introducer and Housing Sustainability and Health Committee Chair"
3. condo financing - Freddie Mac (Federal Home Loan Mortgage Corporation) made an announcement yesterday that can be viewed at freddiemac.gcs-web.com/node/28071/pdf. These changes propose to "Give Lenders Greater Certainty While Streamlining Condo Originations," and may help to alleviate pressures on condo financing (we'll have to see how lenders will embrace these changes).
Aloha,
Lila 🌺
2. New C&C of Honolulu ordinance. The following is an excerpt of a City and County of Honolulu announcement made yesterday; the full announcement may be seen at www.honolulucitycouncil.org/mediareleases/appointments-bills-and-notable-resolutions-adopted-at-the-honolulu-city-councils-full-council-meeting-on-december-6-2023nbsp. Please click on the Bill number to review the actual ordinance which has relevance to "green" projects.
"Bill 56 (2023), CD1, FD1 – This bill will allow the City to enter into a formal agreement with the State’s Hawai‘i Green Infrastructure Authority to establish a commercial PACE financing program within the City. The program would allow commercial property owners, including condominium associations, to access longer-term financing options for property improvements meeting certain criteria.
STATEMENTS:
“I am encouraged by the passage of this measure. I believe that the Commercial Property Assessed Clean Energy Financing Program (C-PACE) could be an extremely valuable tool for many property owners throughout the City. The ability to finance property improvements over a longer period of time will allow more of our small businesses to invest in energy improvements to help reduce costs over time and enable condominium owners to install critical fire sprinkler infrastructure to address health and safety issues in our older buildings. We have to find a way to make these improvements pencil out for our residents, and I believe this is one way we might do that.” - Council Chair Tommy Waters, and Co-Introducer
“C-PACE is a financing program that will allow property owners to apply for long-term loans that spread costs out over time at more favorable rates, making it easier for property owners and small businesses to upgrade their infrastructure. The program will make things like installing solar or converting to septic more affordable and accessible for our community.” - Councilmember Matt Weyer, Co-Introducer and Housing Sustainability and Health Committee Chair"
3. condo financing - Freddie Mac (Federal Home Loan Mortgage Corporation) made an announcement yesterday that can be viewed at freddiemac.gcs-web.com/node/28071/pdf. These changes propose to "Give Lenders Greater Certainty While Streamlining Condo Originations," and may help to alleviate pressures on condo financing (we'll have to see how lenders will embrace these changes).
Aloha,
Lila 🌺