COM 0458.003 1996-1998 - Laserfiche WebLink

Home

~ 1 CONFIDENTIAL MEMORANDUM CIF ' I TO: HOARD OF DIRECTORS HAt~iAICUA HOUSING CORPORATION ~ _ ,,.~5 PROM: A. SCOTT LEZTHEAD ~Y-_ STEVEN L.F. HO DnM ~a _li~:]__.__._. County Counul DATE: JANUARY 9, 1955 RE: TRANSFER OF REAL PROPERTY The purpose of this memorandum is to discuss the various alternatives for the transfer of the camp housing to the former employees of Hamakua Sugar Company (the "Occupants"). The transfer will take place in two steps: (1} the transfer of the camps (the "Camps") once the bulk lot subdivision of each Camp is =ompleted, and (2) the transfer of the housing units (the "Property"), consisting of a dwelling unit (the "House") and the land (the "Lot"), within the Camps. After discussion with Brian Nishimura and Roy Takemoto, we nave analyzed below the following alternatives for transferring .he Property to the Occupants: Alternative 1. The Camps would be transferred from Hamakua Sugar Company ("Hamakua Sugar") to Hamakua HousS.ng Corporation ("Hamakua Housing"). Hamakua Housing would immediately transfer each Camp to all Occupants within each Camp, as tenants in common. Once the individual lot subdivision within each Camp is completed, the Property would be transferred from all Occupants to each individual Occupant. Alternative 2._ The Camps would be transferred from Hamakua Sugar to Hamakua Housing. Hamakua Housing would immediately transfer the Property to each Occupant pursuant to an agreement of sale. Once the individual lot subdivision within each Camp is completed, the actual conveyance of the Property would occur. Alternative 3. The Camps would be transferred from Hamakua Sugar to Hamakua Housing. Hamakua Housing would immediately transfer the Houses to the Occupants and enter into an agreement to transfer the Lots upon completion of the subdivision process. o~.. ,rte - `~~5;~-• d3 EX Ref. Tu: FresP~re,~ ~al,~ c i ~ kte¢. Date ~ 1 7 ~