Laserfiche WebLink
<br /> <br /> <br /> <br /> <br /> <br /> Councilwoman Emily Naeole's Proposed <br /> <br /> "Silent Second" Residential Assistance Program <br /> <br /> This is a county loan program for public employees, serving as a helpful tool <br /> for departments and agencies to recruit and retain high quality public <br /> <br /> employees. <br /> <br /> Details of the loan program are yet to be worked out and should be worked <br /> out with the input of the Finance Department and Human Resources and the <br /> Mayor. Ms. Naeole's office has been making efforts to meet with Human <br /> Resources, Finance and the Mayor to make them aware of my intention to <br /> <br /> put forth legislation calling for this loan program to be implemented. <br /> <br /> The proposed legislation is still in its draft stages, but for now, this is what <br /> the "Silent Second" Residential Assistance Program would look like: <br /> <br /> All 20 departments and agencies would receive a set amount of funds per <br /> <br /> year to loan out for the purpose of recruitment and retention. <br /> <br /> There would be limited participation amongst county employees one time <br /> only. <br /> <br /> The loan application would have to be submitted after successful completion <br /> <br /> of 12 months of employment. The mayor may waive 6 of the 12 month <br /> period at his or her discretion on a case-by-case basis. <br /> <br /> The loan would be toward the purchase of a home. <br /> L <br /> The home purchased is not required to be "new" construction. <br /> <br /> <br /> A second deed of trust must be held under the same title as the property. <br /> <br /> The spouse's name will appear on documents. <br /> <br /> The County of Hawaii loan must retain second position as it relates to the <br /> <br /> Second Deed of Trust, thus the program is called "Silent Second." <br /> <br /> <br /> Gomm. blo, <br /> Ref. To, Fn~e* <br /> Ref, Dote JAN 23 <br />