Posted at 1:07 p.m., Wednesday, June 22, 2005
BUSINESS BRIEFS
$75 million raised for Hawai'i housing
Advertiser Staff
More than 150 low- and moderate-income families will have an opportunity to become first-time homeowners following the state's Housing and Community Development Corporation of Hawaii issuance of $75.2 million in revenue bounds to finance the agency's Hula Mae program.Hula Mae is a mortgage loan program created by the state legislature in 1979 to encourage home ownership among low- and moderate income families. The state raises money through the issuance of tax-exempt revenue bonds and allows eligible homebuyers to borrow the funds at below-market rates.
The recent bond sale, which also was used to refund earlier state bond issues, will result in a 4.45 percent Hula Mae mortgage rate -- the lowest in the history of the program.
To be eligible for a Hula Mae loan, applicants must meet certain eligibility requirements, including income caps that vary from county to county. The annual income limit for a family of three or more in Honolulu County is $94,920; Maui County, $95,060; Kaua'i County, $90,440; and Hawai'i County, $79,800.
Non-profits sought for fundraising at Aloha Stadium football games
The company that runs the food and beverage concessions at Aloha Stadium is looking for non-profit organizations that want to conduct fundraising events during Friday and Saturday night football games at the stadium this fall.
Organizations must have a minimum group size of 20 members above the age of 18 to qualify, according to Centerplate, which also runs food and beverage concessions at seven other Hawai'i locations. The non-profit organizations will be granted permission to operate at the stadium in exchange for 10 percent of their net sales.
"We are committed to providing fundraising opportunities for non-profit organizations to raise money for their causes," said Lois Sismar, Hawai'i regional vice president of Centerplate. For more information, call 488-0924.
50 Hawai'i firms participate in commissary food show
More than 50 local companies will showcase hundreds of products from 9 a.m. to 1 p.m. Friday at the 8th annual American Logistics Association Food Show at the J.W. Marriott Ihilani Resort & Spa at Ko Olina.
Key U.S. military buyers from Washington D.C. and California will attend the show to consider purchasing a full range of foods including: local coffee, tea, chocolate and seafood products to be offered for sale in the commissary system. More than 500 different items will be featured at the show.
Sales of Hawai'i products to commissaries totaled $87 million last year, an $11 million increase from 2003.
