The Honolulu City Council budget committee passed a resolution tonight to authorize the sale of 12 rental housing complexes to a private company.
The city plans to sell the properties to Honolulu Affordable Housing Partners.
Under the leasehold purchase and sale agreement, the company would pay the city $142 million and would spend $42 million on renovations.
The resolution was passed with reservations.
It’s now up to the full council for a vote.
See the original article at: KHON2 Developing Stories
