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,...,,I U <br /> <br /> Stephen K. Yamashiro Richard Wardeman <br /> tVtAyOr Corporation Counsel <br /> ^ <br /> 'iR•O~.M~'.Mf <br /> ~D1xIC~T~J II~ ~~T~Utlil <br /> OFFICE OF THE CORPORATION COUNSEL <br /> 101 Aupuni Street, Suite 325 • Hilo, Hawaii 96720-4262 • (808) 961.8251 • Fax (808) 961-8622 <br /> November 13, 1997 n - - <br /> O~ ~ <br /> L_' <br /> F. <br /> Chairman James Arakaki <br /> Hawaii County Council - <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Dear Chairman Arakaki: <br /> Re: Resolution 415-96 <br /> We received the enclosed correspondence from Mr. Larry Scollick, Tax Law Specialist, with the <br /> Department of Internal Revenue Service, who has indicated that the Hamakua Housing Corporation is in <br /> fact a 501(c)(3) corporation and has been recognized by the Department of Internal Revenue Service <br /> through the cumulative list of organizations described in Section 170(c) of the Internal Revenue Code. <br /> As shown in the attached materials, I had forwarded these materials to Roy Takemoto of the <br /> Hamakua Housing Corporation upon its receipt, and thought he would have reinitiated the resolution <br /> before the Council. <br /> Based on the IRS letter, it is our opinion that the Hamakua Housing Corporation is in fact a <br /> nonprofit organization as defined under Section 2-110(a)(4) and in a position to exchange real property <br /> as a nonprofit corporation through Section 2-115, Exchange of real property, and Section 2-120, <br /> Disposition to government, governmental agencies, nonprofit organizations, and affordable housing <br /> developers. The contentions of Noelani Mason are contrary to the information provided by the IRS. <br /> Should you have any further questions, please feel free to call. <br /> Sincerely, <br /> RICHARD D. WURDEMAN <br /> Corporation Counsel <br /> By t,(,.L~'if,Gt,~.,., <br /> G D TAKASE <br /> Deputy Corporation Counsel <br /> Encs. P1b Aa~,~Q~_ <br /> a:lhamakuaVVCncil.wpd c <br /> cc: Noelani Mason '1'0l ,.Q`1~~.L_.. <br /> ,zit. 1>at.~ ~ 2 5 1997 <br /> <br />