WAILUKU, Hawaii — A Maui County committee approved a resolution urging the Hawaii governor and lawmakers to maintain the affordability of an apartment complex where rent could rise to market rates in 2019.
The Maui News reports that members of the Housing, Human Services and Transportation Committee say the Thursday action is not a solution as the effort to keep the Front Street Apartments affordable is going to require visits to Honolulu and talks with legislators.
The 142-unit facility was constructed by state and private developers as an affordable housing project in Lahaina in 2001.
County Department of Housing and Human Concerns officials say such projects are expected to stay affordable for 50 years. But the federal tax code was amended in 2012 to allow investors to sell such projects after 14 years.