LIHUE — Shall 3 percent of real property tax revenues be earmarked for the purpose of affordable housing?
That’s the question commenters will be addressing during a public hearing at 1:30 p.m. Wednesday at the Kauai County Council meeting at the Historic County Building.
If the charter resolution is passed by the council, the public will vote on the measure during the Nov. 6 general election.
The amendment is expected to generate $4 million per year for affordable housing.
According to the General Plan, Kauai will need 9,000 new housing units over the next 20 years, with about 8,000 of those needing to be affordable.
Affordable housing means no more than 30 percent of household income for families with incomes below 140 percent of the median income.
The resolution, proposed by Councilmember JoAnn Yukimura, will appropriate a minimum of 3 percent of the certified real property tax revenues, to the Housing Development Fund in the Kauai County Code 1987.
The resolution states the money in the fund will be utilized for the development and preservation of affordable housing, including, but not limited to land and or building purchases, property entitlements, planning design, construction and financing.
As proposed, no more than 5 percent of the fund will be used for administrative expenses, and any balance remaining in the fund at the end of each fiscal year, will remain in the fund and will only be used for the specific purpose of affordable housing.
Two people have pre-registered to speak during the hearing.
