Residential workforce housing agreement

A. Before final subdivision approval or issuance of a building permit, the developer must execute a residential workforce housing agreement that details the terms and conditions of compliance with the residential workforce housing policy, including: 1. Sales or rental periods for the residential workforce housing units, which specify procedures for the release of units from the residential workforce housing requirements should units not be sold or rented following the expiration of the sales or rental periods. 2. Identification of the number, type, and location of units. 3. Designation of units for specific income or special housing target groups. 4. Marketing process for the residential workforce housing units. 5. Eligibility of income-qualified households. 6. Provision for residential workforce housing credits, as applicable. 7. Payment of in-lieu fees or provision of in-lieu land. 8. Resale restrictions, which may include buy-back provisions, shared equity, and encumbrances. B. The residential workforce housing agreement shall be recorded with the bureau of conveyances of the State of Hawaiʻi or the land court of the State as the case may be, so that the terms and conditions of the agreement run with the land and bind and constitute notice to all subsequent grantees, assignees, mortgagees, lienors, and any other persons who claim an interest in such property. The agreement shall be enforceable by the County by appropriate action at law or suit in equity, against the developer, its successors, and assignees. ( Ord. No. 5875 , § 5, 2025; Ord. 3418 § 1 (part), 2006)