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#5. Question. Should the Affordable Housing Fund be used to develop rental housing for persons earning 60 percent or less of the median household income, provided that the housing remains affordable for at least 60 years?

SUPPORTERS SAY: The current language is too restrictive, and the fund is not being drawn down for its intended purposes. Adjusting the affordable housing criteria will encourage the State and private housing development entities to partner with the City to expand affordable housing opportunities, allowing the moneys in the fund to be more fully utilized as originally proposed and resolve the issue of the state’s inability to provide leases “in perpetuity.”

OPPONENTS SAY: The voters recognized the need for the City to address the need for affordable rental housing and voted to approve the current Charter Section that created the Affordable Housing Fund, targeting households at 40% adjusted mean income (AMI),the most vulnerable and the most likely to become homeless. Such heavily subsidized housing should remain affordable in perpetuity. Various non-profits and developers are available to address the needs of less vulnerable low-income persons earning more than 40% AMI. Oahu will continue to have housing shortages in the future; affordable using will continue to be needed after 60 years.