§206E-15  Residential projects; cooperative
agreements.  (a)  If the authority deems it desirable to develop a
residential project, it may enter into an agreement with qualified persons to
construct, maintain, operate, or otherwise dispose of the residential project. 
Sale, lease, or rental of dwelling units in the project shall be as provided
by the rules established by the authority.  The authority may enter into
cooperative agreements with the Hawaii housing finance and development corporation
for the financing, development, construction, sale, lease, or rental of
dwelling units and projects.



(b)  The authority may transfer the housing
fees collected from private residential developments for the provision of
housing for residents of low- or moderate-income to the Hawaii housing finance
and development corporation for the financing, development, construction, sale,
lease, or rental of such housing within or without the community development
districts.  The fees shall be used only for projects owned by the State or
owned or developed by a qualified nonprofit organization.  For the purposes of
this section, "nonprofit organization" means a corporation,
association, or other duly chartered organization registered with the State,
which organization has received charitable status under the Internal Revenue
Code of 1986, as amended. [L 1976, c 153, pt of §1; am L 1979, c 126, §2; am L
1987, c 337, §8; am L 1990, c 86, §7; am L 1997, c 350, §14; am L 2005, c 196,
§26(b); am L 2006, c 180, §16]