SB 534: HCDA; OHA; KAKAAKO MAKAI; RESIDENTIAL DEVELOPMENT; HEIGHT LIMIT; WORKFORCE HOUSING; OWNER-OCCUPANT; HAWAII COMMUNITY DEVELOPMENT REVOLVING FUND; SPECIAL ACCOUNT; KAKAAKO MAKAI; ASSOCIATION FEE; TAX INCREMENT FINANCING; WORKING GROUP; REPORT; APPROPRIATIONS

Part I:  Clarifies the process by which the Hawaii Community Development Authority may approve residential development on certain parcels of Kakaako Makai.  Raises the building height limit and the maximum floor area ratio on certain parcels in the area.  Requires a certain percentage of the residential units developed on certain parcels to be allocated to households at or below a certain income level in perpetuity, with priority given to certain essential workforce in the area.  Limits the sale of residential units developed in certain residential developments to prospective owner-occupants.  Requires the Office of Hawaiian Affairs to determine a Kakaako Makai association fee to be collected from residents, tenants, and lessees of certain parcels to be deposited into a special account in the Office of Hawaiian Affairs Special Fund to fund various services and projects in the Kakaako Makai area.  Part II:  Authorizes the HCDA to engage in tax increment financing with respect to the Kakaako Community Development District.  Establishes a Kakaako Community Development District Working Group to plan, coordinate, and facilitate the transfer of the Kakaako Community Development District and its functions from the HCDA to the City and County of Honolulu.  Requires a report to the Legislature.  Appropriates funds.  (Proposed SD2)