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3 <br /> Mitchell D. Roth -4 or Deanna S. Sako <br /> c.® <br /> Mayor w yltti Director <br /> Diane Nakagawa <br /> Depury Director <br /> �r�°aF•Hrr► <br /> Countu offlawai`i <br /> Finance Department f. <br /> 25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720 <br /> (808)961-8234 Fax(808)961-8569 <br /> November 2, 2022 <br /> Maile Medeiros David, Council Chair and <br /> Members of the Hawaii County Council <br /> Hawaii County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: Resolution 595-22 <br /> The Department of Finance would like to provide additional information regarding <br /> Resolution 595-22, authorizing the payment of funds of a later fiscal year and of more <br /> than one fiscal year for a multi-year lease of real property. <br /> The Department of Finance seeks to enter into a five-year lease agreement with two five- <br /> year options to utilize office space at 120 Pauahi Street, Hilo, Hawaii (former Bank of <br /> Hawaii building) at a monthly cost of$30,421.67 for the first year with a 3%base <br /> increase each year thereafter. Year one will consist of four free months (anticipated <br /> January 2023 —April 2023) and eight paid months (anticipated May 2023 - December <br /> 2023). Year two is anticipated to commence on January 1, 2024 at a rate of$30,851.17 <br /> per month. <br /> If there are any questions, please feel free to contact Hamana Ventura of the Finance <br /> Department's Property Management Division at 961-8009. <br /> 14 <br /> Deanna S. Sako <br /> Director of Finance <br /> Enc. <br /> c: Prop Mgmt <br /> Comm. No.. <br /> Ref.To: <br /> Hawaii County is an Equal Opportunity Employer and Provider Ref: <br /> 'bate NUV <br />