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RESOLUTION NO. "I 158 21 WHEREAS, RCFC Kaloko Heights, LLC, a Delaware limited liability company, Kaloko Heights BIA Holdings, LLC, a Delaware limited liability company, and Kaloko Heights Investors, LLC, a Delaware limited liability company (collectively, together with their successors and assigns, the "Petitioner") are developing a project, known as "Kaloko Heights," consisting of single family residential, multiple family residential, commercial, and open uses at Kaloko and Kohanaiki, North Kona, Hawaii (the "Project"); and WHEREAS, in connection with the Project, the Petitioner proposes to construct certain special improvements (the "Improvements") consisting of a sewer line extension and related improvements that will serve the Project and other properties that may be connected to the Improvements in the future, including the Hawaii Island Community Development Corporation's affordable housing development to be constructed in the vicinity of the Improvements; and WHEREAS, on March 28, 2019, the County Council of the County of Hawaii (the "Council") adopted Resolution No. 86-19 which authorized the construction of the Improvements; and WHEREAS, by Petition dated January 29, 2020 (the "Original Petition"), the Petitioner requested the County's assistance in financing the Improvements through the formation of an improvement district and issuance of bonds pursuant to Chapter 12, Hawai'i County Code; and WHEREAS, pursuant to Resolution No. 502-20 adopted on March 11, 2020, the Council accepted the Original Petition and authorized the initiation of proceedings for the formation of an improvement district pursuant to Chapter 12, Hawaii County Code; and 415903.6