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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> <br /> DATE: May 16, 2006 Re: Comm. No. 889/Res. No. 364-06 <br /> <br /> PLACE: Council Chambers <br /> <br /> TIME: 10:03 a.m. <br /> Council Chair and Members <br /> <br /> Hawaii County Council <br /> <br /> Hilo, Hawaii 96720 <br /> <br /> Your Committee on Finance, to which was referred Resolution No. 364-06, reports as follows: <br /> Resolution No. 364-06, transmitted by Director of Finance William Takaba, via Communication No. 889, <br /> dated May 2, 2006, authorizes the payment of funds of a later fiscal yeaz and of more than one fiscal yeaz <br /> for amulti-year lease of real property at 891 Ululani Street. <br /> <br /> The County wishes to enter into amulti-yeaz lease with Harvey S. Tajiri and Helene H. Tajiri, through <br /> <br /> Ala Kai Realty, Inc., for five (5) yeazs beginning on July 1, 2006 and will haue an unconditional right to <br /> <br /> terminate, effective after three (3) years with one hundred eighty (180) days prior written notice to the <br /> landlord. <br /> This property, located across from the Police Department, was formerly the VA Hilo Medical Office <br /> Building. It contains 11,996 square feet of office space and 28 pazking stalls that can be reconfigured to <br /> include a few more. The owner of the building has agreed to furnish the County with additional parking <br /> stalls at one of two adjacent empty lots. <br /> Funds would be budgeted in future fiscal yeazs to cover the anticipated costs. <br /> Pursuant to Section 10-11, Hawaii County Charter, any contract, lease or other obligation requiring <br /> payment of funds from the appropriations of a later fiscal yeaz must be approved by resolution. <br /> William Takaba, Director of Finance, explained that although the lease is for five years, provisions aze <br /> included to end the lease after three years with no penalty. <br /> Some members of Your Committee felt that Administration should do a cost analysis on demolishing and <br /> rebuilding the County Building and one for renovations on the County Building. <br /> <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 364-06 and <br /> recommends its adoption. <br /> smc <br /> AYES NOES A&E EX Respectfully sul7iruned, <br /> ARAKAHI X <br /> HICA X COMMITTEE ON FINANCE <br /> HOFFMANN X <br /> HOLSCH[JH X <br /> i <br /> IKEDA X <br /> ISBELL X <br /> aACOBSON x VIRG IA ISBELL, CHAIR <br /> rnaco X FC REPORT NO. 299 <br /> SAFARIK X ADOPTED: JUN 0 5 inns <br /> <br />