COM 1054.000 2006-2008 - Laserfiche WebLink

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February 25, 2008 The Honorable Pete Hoffmann and Council Members Page 2 As indicated above, the purchase of two parcels has been completed. These are the Rice property at the Waipi`o Valley Lookout Point and one of the four parcels (TMK: 9-5-17:07) at Kawa`a. In addition, the acquisition of the three remaining Kawa`a parcels is in progress. The Waipi`o parcel was purchased with funds from the Public Access, Open Space and Natural Resources Preservation Fund. The Kawa`a parcel was purchased with funds from the Public Access, Open Space and Natural Resources Preservation Fund and a State Legacy Land Grant of $1.2 million. The purchase of the three remaining Kawa`a parcels will be covered by Public Access, Open Space and Natural Resources Preservation Fund money along with a State Legacy Land Grant and Federal National Coastal Wetlands Conservation Grant from the Department of the Interior Fish and Wildlife Service. Status of Funds - Public Access, Open Space and Natural Resources Preservation Fund Attachment 1 shows the status of funds in the Public Access, Open Space and Natural Resources Preservation Fund. The cash balance on hand at January 31, 2008 was $3,271,746. Estimating future transactions through December 31, 2008 gives a cash balance of $1,471,746 available for use. This will be augmented when approved grant funds are received. The State Legacy Land Fund has awarded two grants totaling $2.7 million towards the purchase of the four Kawa`a parcels in Kd'u. However, the processing of the grants at the state level takes time, and it is uncertain when the money will be received to reimburse the Fund for cash advanced to complete the Kawa`a transactions. Likewise, it is uncertain when the funds for the federal grant for Kawa`a, obtained with the assistance of The Trust for Public Land, will actually be received. It is safe to assume that at December 31, 2008, there will be at least $1,471,746 in cash in the Public Access, Open Space and Natural Resources Preservation Fund. Whether there is more than that available depends, as stated above, on when the approved grant funds are received. Recommendations Authorize the acquisition of Pa `o `o in North Kohala, the first priority in the 2007 Report. In compliance with the priorities set by the County Council, during 2008 we will be focusing on completing the acquisition of Kawa`a, which will result ultimately result in obtaining 785 acres of coastal land in Ka`u for the people of Hawaii. In addition to this focus, it is recommended that the County focus on acquiring the first priority in the 2007 Report, Pa`o`o in North Kohala. Given the available funds and the properties already authorized for purchase, it would be unrealistic to plan for any further purchases at this time. Other than Kawa`a and Waipi`o Valley, there are five remaining parcels of land from prior year reports that have been authorized for purchase by the County Council (see list above.) No action has been taken yet on four of these, and on the remaining parcel (Punalu`u), the owner has indicated unwillingness to sell to the County. To this point, the administration has been following the priorities established by the County Council in pursuing Kawa`a and Waipi`o Valley.