HomeMy WebLinkAboutNR042718HOUSINGBERNARD P. CARVALHO JR.
Mayor
COUNTY OF KAUA'I
HOUSING AGENCY
News Release
For Immediate Release: April 27, 2018
WALLACE G. REZENTES JR.
Managing Director
KANANI FU, DIRECTOR
Tel (808) 241-4444
Fax (808) 241-5118
Site blessing held for Koa`e Makana on Friday
KOLOA — The Kaua'i County Housing Agency in partnership with Mark Development
held a site blessing for Koa'e Makana, a new Workforce Housing project to be located in Koloa,
on Friday.
"Affordable housing is much needed for our local families, and this particular affording
housing initiative is one of many here on Kaua'i," said Mayor Bernard Carvalho Jr. "Mahalo to
Kanani Fu and her staff with the Housing Agency, Mark Development, and Tom Shigemoto with
Kukui'ula for making this Workforce Housing project a big success."
When completed, Koa`e will be comprised of 134 units with a mix of one, two, and three
bedroom units. To reside at Koa`e, applicants are required to have a household income that
does not exceed 60 percent of KauaTs Area Median Income:
Household
1
2
3
4
5
6
7
8
Size
60%
Income
$37,050
$42,300
$47,600
$52,900
$57,150
$61,350
$65,600
$69,800
Limits
income limits effective as of 04/26/2018 and are subject to change.
Koa`e's infrastructure improvements will break ground this month and is expected to take
two years for full buildout.
The state awarded Mark Development a combined total of $4.1 million of low income
housing tax credits, which secured $35 million of private financing with our investing partners.
Additionally, Home Investment Partnership Program funds of $2.25 million and National
Housing Trust Fund (HTF) funds of $2.7 million was committed to project.
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Over 100 people gathered at the site blessing of Koa`e Makana, a new Workforce
Housing project to be located in Koloa , on Friday.