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Form #: B-52 <br />7118/91 <br />DEPARTMENT OF FINANCE <br />REQUEST FOR COUNCIL ACTION <br />DEPARTMENT: Office of Housing tir Community Dev. _,_ DATE, 08.15.2024 <br />STAFF CONTACT: Toi (Gary �Wong .... . PHONE: 808.323.4306 <br />A. REQUEST: <br />The Office of Housing and Community Development (OHCD) is requesting a resolution authorizing the <br />Director of Finance to negotiate a sixty-five year lease with the Housing and Land Enterprise of Hawai'i <br />County, DBA: Hale 0 Hawai'i for the purpose of the development and construction of a below market rate <br />single-family home on TMK (3) 2-4-051:094, <br />The OHCD respectfully requests that the above mentioned matter be placed on the Finance Committee <br />Agenda on September 17, 2024, <br />WINA11121"_1 Kalil <br />OHCD has previously partnered with Housing and Land Enterprise of Hawai'i County, DBA: Hale 0 Hawai'i <br />on TMK (3).2-4-024:157 (University Heights) of constructing a below market rate single family home and the <br />construction of this project is expected to be completed by end of 2024. Hale 0 Hawai'i is in the process of <br />screening more than 100 potential candidates for this project. <br />The County acquired a 10,12 square feet (0.2324 acres) parcel, from the State of Hawai'i by way of <br />Executive Order 4686 on November 9, 2022 for the purpose of affordable housing and related purposes. <br />Due to the favorable progress of the previous project, the County would lilke to continue its partnership with <br />Housing and Land Enterprise of Hawai'i County, DBA: Hate 0 Hawai'i to develop a below market rate Single - <br />Family Home under a community land trust program. <br />The rent for this lease will be $10,00 per year. <br />OHCD would like this Resolution to be placed on the September 17, 2024 Finance Committee meeting, <br />SIGNED: 'elpartment Head DATE: <br />