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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: February 21, 2007 RE: Comm. No. 148/Res. No. 60-07 <br /> PLACE: Sheraton Keauhou Bay Resort & Spa <br /> 78-128 `Ehukai Street <br /> Kailua-Kona, Hawaii <br /> TIME: 2:03 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. 60-07, reports as follows: <br /> Resolution No. 60-07, transmitted by Council Member Dominic Yagong, via Communication <br /> No. 148, dated January 31, 2007, is to postpone the pending public auction of Hamakua Lands in <br /> Pa`auilo, Tax May Keys (TMK's) (3) 4-3-7:01; 4-3-09:19; 4-3-09:24; 4-3-11:01 and 4-3-11:02, <br /> to enable the Hawaii County Council to formulate a plan of land disposition to help alleviate the <br /> affordable housing crisis on Hawaii Island. <br /> In 1994, the Council of the County of Hawaii, agreed to accept approximately 4,400 acres of <br /> land by Commissioner's Quitclaim Deed as a settlement for retroactive real property taxes <br /> among Western Farm Credit Bank, the County of Hawaii and Hamakua Sugar Company, Inc. <br /> On June 19, 2002, the Hawaii County Council approved Resolution No. 209-02 authorizing the <br /> sale by negotiation of the former Hamakua Sugar Company, Inc. lands now under County <br /> ownership in addition to the authorization provided in Resolution No. 161-02 (sale by auction, <br /> land exchange by negotiation, and short-term lease by auction, seal bids or negotiation), which <br /> <br /> was approved on January 24, 2002. <br /> The Hawaii County Department of Finance contracted PBR Hawaii to prepare an <br /> environmental assessment on the TMKs: (3) 4-3-07:01, 4-3-09:19, 4-3-09:24, 4-3-11:01 and <br /> <br /> 4-3-11:02, Pa`auilo, Hamakua, Hawaii encompassing approximately 700 acres for the purpose <br /> of selling said properties. The Final Environmental Assessment states that the Hawaii County <br /> Department of Finance proposes to sell the subject properties at public auction. <br /> Section 2-112, of the Hawaii County Code 1983 (2005 Edition, as amended) states, in part, <br /> "Unless the council finds substantial reasons to dispose of real property in some other manner, <br /> all disposition of real property shall be made at public auction, after public notice as provided in <br /> section 2-111....". <br /> FC REPORT NO. 52 <br /> <br />