The Honolulu City Council Budget Committee advanced a bill Tuesday to try and make an unused affordable housing program more attractive to landlords.
Currently, landlords who dedicate their properties as affordable rentals for those making up to 80% of the annual median income for at least five years can receive a lower residential property tax rate.
However, in the last 10 years that the law has been in effect, no landlord has utilized the incentive, likely because the savings are not enough to offset the profit of renting at market rate…