REQUESTING THE DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT, AND TOURISM TO CONDUCT A STUDY ON THE FEASIBILITY OF UTILIZING MEZZANINE LOANS TO INCREASE THE RATE OF HOUSING PRODUCTION IN THE STATE.

This Senate Concurrent Resolution (SCR 3) requests Hawaii's Department of Business, Economic Development, and Tourism (DBEDT) to study whether using mezzanine loans could help increase housing production in the state. Mezzanine loans are a financing tool that could allow housing developers to secure funding with less required equity, potentially lowering costs and accelerating project timelines. The study aims to evaluate if this approach could address Hawaii's severe housing shortage and improve the efficiency of state housing funds. DBEDT must submit findings and recommendations to the Legislature by early 2027. (Note: This is a study request, not a law implementing mezzanine loans.)