RES 549 Draft 01 2024-2026 - Laserfiche WebLink

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COUNTY OF HAWAI`I RESOLUTION NO. STATE OF HAWAI`I '549 2(-, A RESOLUTION AUTHORIZING THE PAYMENT OF FUNDS FROM LATER FISCAL YEARS TO ENTER INTO A MULTI -YEAR HOUSING ASSISTANCE PAYMENT CONTRACT WITH THE PROPERTY MANAGER OF AN AFFORDABLE HOUSING PROJECT SELECTED BY THE OFFICE OF HOUSING AND COMMUNITY DEVELOPMENT FOR THE PROJECT -BASED VOUCHER PROGRAM. WHEREAS, Section 10-11 of the Charter of the County of Hawaii (hereinafter "the Charter") provides, in part, that "any contract, lease or other obligation requiring the payment of funds from the appropriations of a later fiscal year or of more than one fiscal year shall be made or approved by resolution"; and WHEREAS, the purpose of the Project -Based Voucher program is to encourage property owners or managers to make rental housing units available to low-income families that are not within current housing fair market rents; and WHEREAS, under the Project -Based Voucher program, the Office of Housing and Community Development (hereinafter "OHCD") will attach a Section 8 Housing Assistance Payment Contract to existing structures; and WHEREAS, through a Request for Proposals process, OHCD selected the following project and number of vouchers for the Project -Based Voucher program: Kino`ole Senior Residences (29 vouchers); and WHEREAS, OHCD wishes to enter into a multi -year housing assistance payment contract with the property manager of the affordable housing project hereinabove identified (hereinafter the "Provider"); and WHEREAS, OHCD estimates the cost of this agreement to be up to $550,000 per year, with a term of up to twenty years; and WHEREAS, this agreement will further the overall goal of OHCD to provide for the development of viable communities in the County by providing decent housing and sustainable living environments, expanding housing and economic opportunities, and deconcentrating poverty; now, therefore,