Applications are being accepted for the lottery to assign the first of more than 300 affordable units in Kailua-Kona.

The first Lokahi Affordable Apartments, the development at the bottom of Kaiminani Drive, are expected to be available in August.

The development includes 306 appartments in 18 buildings, including 90 studio appartments and 108 each in 1-bedroom and 2-bedroom units 

Deadline for applications is 5 p.m. Tuesday, March 31. The lottery is Friday, April 10 at the construction office, 73-4411 Kakahiaka St. in Kona.

Download on application at the bottom of this post or pick one up at the Office of Housing and Community Development, 50 Wailuku Dr., Hilo.

Lokaha Affordable Apartments are an affordable housing development that will serve individuals, seniors and families with incomes not greater than 60% of the Area Median Income (AMI) as established by the U.S. Department of Housing and Urban Development (HUD).

The following figures are based on 2008 HUD Income Limits, and both income limits and rents are subject to change:

Maminum Income 1 person:   $27,540
Maximum Income 2 persons: $31,400
Maximum Income 3 persons: $35,400
Maximum Income 4 persons: $39,300
Maximum Income 5 persons: $42,420

RENTS:
Studio: $666
1 Bedroom: $695
2 Bedroom: $823

Other Qualifying Criteria:
Tenants must have satisfactory credit
Tenants must pass a criminal backgound check
Tenants must have good landlord references
A minimum gross monthly income of at least 2.5 times the rental amount