| HUD No. 06-055 Donna White (202) 708-0685 |
For Release Monday May 22, 2006 |
HUD SIGNS HISTORIC AGREEMENT WITH THE DEPARTMENT OF HAWAIIAN HOME LANDS
Pact to increase homeownership opportunities for Native Hawaiians
HONOLULU - The Department of Housing and Urban Development announced today that it has signed an historic agreement with the Department of Hawaiian Home Lands (DHHL) that will give more native Hawaiians the opportunity to become homeowners on Hawaiian Home Lands. The agreement will make it possible for individuals to utilize a HUD loan guarantee program specifically created for native Hawaiians.
"This agreement will give native Hawaiians the same privilege Native Americans currently have," said HUD Assistant Secretary Orlando Cabrera, who announced the agreement while addressing attendees at the National American Indian Housing Council's 32nd Anniversary Convention and Trade Show. "DHHL is at the forefront of proving homeownership opportunities to native Hawaiians. HUD is proud to assist in its efforts," said Cabrera.
The agreement provides the framework to make it possible for individual Native Hawaiians to utilize the Native Hawaiian Loan Guarantee Section 184 (A) Program to secure financing for residential mortgages. The program will work similarly to the Native American Section 184 Program, which allows individual tribal members to secure financing for purchasing homes or rehabilitating existing homes. The Section 184 (A) Program currently has $190 million in loan guarantee authority.
Last year DHHL utilized the Section 184 (A) Program to finance 11 single-family homes.
HUD's Office of Public and Indian Housing (PIH) is responsible for managing and administering a range of programs, including the two largest federal rental assistance programs - public housing and the Housing Choice Voucher Program, formerly known as Section 8. Combined the programs serve more than 3.2 million low-income families in the U.S. PIH also monitors the operations of the nation's approximately 3,400 public housing authorities that manage the country's more than 1.2 million public housing units and administer other HUD programs. More information about HUD and its programs is available on the Internet and espanol.hud.gov.
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