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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> <br /> DATE: January 18, 2007 Re: Comm. No. 73/Res. No. 33-07 <br /> <br /> PLACE: Council Chambers <br /> <br /> TIME: 1:00 p.m. <br /> Council Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Resolution No. 33-07, reports as follows: <br /> Resolution No. 33-07, transmitted by Director of Finance William Takaba, via Communication <br /> No. 73, dated January 3, 2007, authorizes the acceptance of monetazy donation from Continental <br /> Pacific, LLC for the Kula`imano Pazk Expansion Project. <br /> Committee Chairman Dominic Yagong, relinquished the chair to Committee Vice-Chair Robert <br /> Jacobson, to be able to make the motion be able to make the motion on the measure. <br /> Resolution No. 33-07, Draft 2 was submitted to the Committee by Dominic Yagong, to amend as <br /> follows: <br /> "WHEREAS the Pepe`ekeo Community Association was involved in the discussion between the <br /> County of Hawaii and Continental Pacific LLC and is in a¢reement with the specific roumoses <br /> of spendin¢ the funds for said improvements at Kula`imano Center and Park; and <br /> WHEREAS the Pepe`ekeo Community Association shall serve in an advisory capacity to the <br /> Department of Parks and Recreation as to how the funds will be spent on improvements to <br /> recreation amenities at Kula`imano Center and Park; and" <br /> In the resolved portion of the resolution to which was added the amendment as follows: <br /> "BE IT FURTHER RESOLVED that the Department of Parks and Recreation shall work with <br /> the Pe~`ekeo Community Association to be Dart of the decision makine rorocess for the use of <br /> funds contributed from Continental Pacific LLC and that a letter of notification and a copy of <br /> this resolution be sent to Ms Lorraine Mendoza, President of the Pepe`ekeo Community <br /> Association Post Office Box 877 Peroe`ekeo. Hawaii 96783." <br /> Continental Pacific, LLC has committed to contribute to the County of Hawaii, the sum of <br /> $15,000 from each sale of the 221ots known as the Pepe`ekeo North SMA and the Pepe`ekeo <br /> South SMA lots at Pepe`ekeo Point. Their expected contribution totaling up to $330,000, will be <br /> used for the specific purpose of the design and construction of improvements at the Kulaimano <br /> Center and Park. <br /> The County of Hawaii has already received $30,000 from Continental Pacific, LLC due to the <br /> sale of 21ots. <br /> FC REPORT NO. 23 <br /> <br />