COM 0124.025 2004-2006 - Laserfiche WebLink

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MtY os M Harry Kim l~ William Takaba Mayan Dlreclor • Nancy E. Crawford ij•,, „ Depurv Director ~'oi •N'~ County of Hawaii Finance Department _ , 25 Aupunf Strect, Room 118 Hilo, Hawaii 96720 , (808)961-8234 Fax (808)961-8248 Memorandum To: Virginia Isbell, Chair , and Members of the Committee o ce From: William Takaba, Director of Fin Date: March 24, 2005 Re: Operating and Capital Budgets and Program Review We received a copy of memorandum dated March 21, 2005 to you from Rodney Oshiro and Susan Caseria. The following are responses to questions related to the Department of Finance and the Miscellaneous accounts: Finance Department 1. The sale of real property decreased from $1.5M in FY05 to $350K in FY06. How many more properties does the County own and what is its value? Response: The County still owns sixteen parcels in the Hamakua area which were acquired in lieu of property taxes from Hamakua Sugar. Two of the parcels in the Paauilo area are currently being sub-divided to their underlying grants, which will result in ten properties to be sold. There are three remaining properties in the Paauilo area, currently being surveyed, which will also be sold. A volunteer fire station and highway baseyard are expected to be located on a portion of one parcel in the area. The remaining ten parcels are in the Kapulena area beyond Honokaa. They have not been surveyed and additional work needs to be done before they are ready for sale. The total assessed value of the sixteen Hamakua parcels is $9,802,900. We anticipate selling a number of properties in the next few months, but it is difficult to know if they will sell before June 30, 2005. The remainder properties will require time to prepare for sale and it is unknown if they will be sold during FY 2005-06. Comm. No, f Z~• Zf Ref. To•~raserNt FG. Ref. Uate