Section 210D-8 - Powers and dutiesThe department shall have the necessary powers to carry out the purposes of this chapter, including the following:
(1) With advice from the council, prescribe the qualifications for eligibility of applicants for loans and grants;(2) With advice from the council, establish preferences and priorities in determining eligibility for financial assistance;(3) Establish the conditions, consistent with the purpose of this chapter, for the awarding of financial assistance;(4) Provide for inspection at reasonable hours of facilities, books, and records of a community-based organization that has applied for or has been awarded financial assistance and require the submission of progress and final reports;(5) Provide loans and grants for community-based economic development activities and community-based enterprises for purposes consistent with this chapter;(6) Determine the necessity for and the extent of security required in a loan;(7) Prescribe and provide appropriate management counseling and monitoring of business activities;(8) Administer the Hawaii community-based economic development special fund;(9) Include in its budget for subsequent fiscal periods amounts necessary to effectuate the purposes of this chapter;(10) Participate in loans made to qualified persons by private lenders;(11) Establish interest rates chargeable by the State for direct and participation loans; and(12) Adopt rules pursuant to chapter 91 to implement this chapter.Amended by L 2021SP1, c 9,§ 32, eff. 7/1/2021.L 1990, c 111, pt of §2; am L 1996, c 192, §8; am L 2009, c 124, §5 .