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<br /> Form B-52 <br /> <br /> 7/18/91 <br /> DEPARTMENT OF FINANCE <br /> REQUEST FOR COUNCIL ACTION <br /> DEPARTMENT: Housing DATE: 5/1/2007 <br /> STAFF CONTACT: Rex Jitchaku PHONE: 961-8379 <br /> A. REQUEST: <br /> Request an amendment to the Capital Improvement Budget (Ord 06-80) to add an appropriation of <br /> $6,000,000 for Waikoloa Workforce Housing Project Pre-development. <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> The Waikoloa Workforce Housing Project is in its initial planning and design phase. Pre-development includes <br /> planning, design, legal fees, special studies and financial analysis that are related to the project as a whole <br /> and to pre-formation activities of a community facilities district. The site can potentially include up to 1200 for- <br /> sale and rental units, and will proceed in phases based on feasibility. <br /> Funding of the current pre-development phase of the project will allow this phase of the project to proceed <br /> without interruption and will reduce the burden on the potential Community Facilities District, and ultimately <br /> the homeowners and renters within the completed development. <br /> SIGNED: ~~%t/" ~ _ DATE: O.(-~o3~ <br /> 7 <br /> Department Head <br /> <br />