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Hualalai Resort Affordable Housing Implementation Plan The Hualalai Resort Affordable Housing Implementation Plan (the "Plan") consists of the following basic points: 1. KMV will contribute to the development of affordable housing in the County of Hawaii by facilitating beneficial terms of purchase and providing acquisition or construction subsidies for eligible Hualalai Resort employees. 2. KMV will commit to fund up to $1,000,000 into a housing subsidy fund (the "Housing Fund"). The Housing Fund will be used to provide eligible employees of Hualalai Resort with assistance, as described above. 3. The Plan will be offered for (i) a period of five years or, (ii) whenever the Housing Fund is completely disbursed, whichever occurs first (the "Offering Period"). The Offering Period will commence approximately 90 days after approval of the Plan by the County. 4. HDC will use the County of Hawai'i's Income Schedule By Family Size to determine eligibility for the Plan. The general intent is to award housing subsidies to people who would qualify under the County's Income Guidelines (not more than 140% of County Median Income). 5. In order to be eligible for the Plan, employees must complete their probationary period, which is currently 90 days after the date of hire. After completion of their probationary period, employees could apply for a subsidy from the Housing Fund. 6. A simple application process will be used. Interested employees will fill out an application providing information such as income level, family size, current housing situation, and provide a brief explanation of how they intend to use the housing assistance. The basic intent of the application process is to determine income eligibility and the nature and extent of need. A follow-up interview may be used to clarify information or obtain additional information to assist with the determination of need. 7. The Hualalai Resort Human Resources Department will process the applications and, if necessary, conduct the interviews. After a screening process, they will submit the applications to a three-person committee which will make a final determination on the nature of assistance which is appropriate, given the employee's needs and circumstances. 8. The individual housing subsidies will generally vary between $5,000 and $20,000, although HDC reserves the right to determine the final amount based on the need demonstrated in the application or interview process. 3164d.dk1