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DATE: September 5, 2023 <br />PLACE: Council Chambers <br />Hilo, Hawaii <br />TIME: 11:30 a.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />REPORT OF THE <br />COMMITTEE ON FINANCE <br />Re: Comm. No. 417/Bill No. 64 <br />Your Committee on Finance, to which was referred Bill No. 64, reports as follows: <br />Bill No. 64, transmitted by Finance Director Deanna S. Sako via Communication No. 417 dated <br />August 16, 2023, amends Ordinance No. 23-50, as amended, the Operating Budget for the County of <br />Hawaii for the fiscal year ending June 30, 2024. <br />This bill increases revenues in Fund Balance From Previous Year account ($8,903,560.97); and <br />appropriates the same to the Housing Production account to fund successful proposals for <br />affordable housing production. <br />Committee Member Cindy Evans asked for background on this measure. Controller Kay Oshiro <br />provided a brief overview. Ms. Evans asked how they plan to use these funds for housing, to <br />which Housing and Community Development Manager Royce Shiroma answered. <br />Committee Member Ashley L. Kierkiewicz provided some comments and information for <br />Ms. Evans to review regarding the housing proposal that will benefit from these funds. <br />Ms. Kierkiewicz went on to ask Mr. Shiroma to give an update on how the application process <br />was going. He replied that they have received many applications and are working through them <br />but have yet to make a selection. <br />Committee Member Susan L. K. Lee Loy asked Mr. Shiroma how many units we could expect <br />with the execution of these contracts, to which Mr. Shiroma could not definitively say as it is <br />difficult to know but stated that it could be 300 units, but taking affordable housing into account, <br />he could not be sure. <br />Committee Member Holeka Goro Inaba asked for clarification on where the funding is coming <br />from in the County Budget. Mr. Shiroma explained that these were funds allocated in last year's <br />budget but have recently lapsed on June 30, 2023. The department is simply requesting to <br />reappropriate the lapsed funds. Mr. Inaba asked if the project's account budget would change if <br />the committee approved this request, and Mr. Shiroma replied no, it would not. The department <br />already accounted for those funds as well. <br />FC Report No. 71 <br />