HAR §15-307-241. Purpose

The purpose of this subchapter is to set forth the rules relating to use of the dwelling unit revolving fund for grants or loans to finance regional infrastructure improvements. [Eff 4/28/17; comp 1/15/22; comp ] (Auth: HRS §§201H-4, 201H-191.5) (Imp: §201H-191.5) §15-307-242 Regional infrastructure subaccounts; generally. (a) Upon request of a county government, the corporation may establish a regional infrastructure subaccount within the dwelling unit revolving fund for that county pursuant to the requirements of [§201H-191.5.] section 201H-191.5, HRS. Each county subaccount so established may be used to provide grants and loans to state agencies, or loans to counties or private developers, to cover eligible costs of regional infrastructure improvements within that specific county. (b) Regional infrastructure subaccount funds may be utilized for the planning, design, feasibility studies, construction, and materials for infrastructure improvements that would increase the capacity of the infrastructure facilities, including regional sewer systems, water systems, drainage systems, roads, and telecommunications and broadband. The corporation may also use subaccount funds to repay private investors for their investment plus any interest accrued on their investments made into the subaccounts to finance, in whole or in part, 307-52 infrastructure improvements that would increase the capacity of said infrastructure facilities. (c) The corporation may, from time to time and at its sole discretion, determine that there are sufficient funds available in the dwelling unit revolving fund to transfer to regional infrastructure subaccounts for the purpose of making regional infrastructure grants and loans to [State] state departments and agencies, or regional infrastructure loans to county departments and agencies and private entities. (d) Grants and loans shall be made only for capital improvement projects supported by the respective county council and mayor, or state agency, as applicable, with a view towards planned growth rather than upkeep and maintenance.  (e) The Hawaii interagency council for transit- oriented development shall review and make recommendations on applications for subaccount funds for infrastructure projects related to transit- oriented development. (f) The corporation may assess fees, including application, origination and servicing fees, as prescribed by the exhibit at the end of this [chapter] subchapter entitled "Fees", dated JAN 2026 to cover the administrative expenses of originating and managing the subaccounts. The fees shall be deposited into the dwelling unit revolving fund. [Eff 4/28/17; am and comp 4/28/17; am and comp 1/15/22; am and comp ] (Auth: HRS §§201H-4, 201H-191.5) (Imp: HRS §§201H- 4, 201H-191.5)