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COUNTY OF HAWAII _ STATE OF HAWAII <br /> RESOLUTION NO. 44 O1 <br /> RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO NEGOTIATE WITH <br /> THE PAPA'ALOA HOUSING INCORPORATED TO LEASE THE PAPA'ALOA <br /> ELDERLY HOUSING PROJECT AND AUTHORIZING THE MAYOR TO EXECUTE A <br /> REGULATORY AGREEMENT WITH PAPA'ALOA HOUSING INCORPORATED TO <br /> OPERATE THE PAPA'ALOA ELDERLY HOUSING PROJECT <br /> WHEREAS, the County of Hawaii owns approximately 2.5 acres <br /> of land in Papa'aloa, Hamakua, Hawaii, further described as <br /> TMK: 3/3-5-03: 099; also known as the Papa'aloa Elderly Housing <br /> Project (PEHP); and <br /> WHEREAS, Chapter 2, Article 19, Section 2-120 (a)(2), <br /> Hawaii County Code, as amended, provides that real property may <br /> be leased through negotiation; and <br /> WHEREAS, Chapter 2, Article 19, Section 2-120 (b), Hawaii <br /> County Code, as amended, provides that a disposition of real <br /> property to non-profit organizations may be made without the <br /> required notice or appraisal; and <br /> WHEREAS, the County of Hawaii agrees that leasing the PEHP <br /> to the Papa'aloa Housing Incorporated (PHI), a duly formed not- <br /> for-profit corporation under IRS Section 501c(3), for the <br /> <br /> purpose of providing affordable rental units to the elderly and <br /> other special needs housing would be beneficial; and <br /> WHEREAS, it is the intent of the County of Hawaii to lease <br /> the PEHP to the PHI for TEN AND NO/100 DOLLARS ($10.00) per year <br /> for twenty (20) years; and <br /> WHEREAS, the Agreement will state that the PHI will provide <br /> affordable rental units to the elderly and other special needs <br /> housing for at least twenty (20) years; and <br /> WHEREAS, the County hereby acknowledges that the Papa'aloa <br /> area is a good and proper choice for elderly and/or other <br /> special needs housing; and <br /> <br />