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WHEREAS, HICDC needs the Tax Credits to successfully complete <br />development of the Project. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF <br />HAWAII, that the Finance Director is hereby authorized to amend the <br />Lease term from fifty-five (55) years to sixty-five (65) years. <br />BE IT FURTHER~RESOLVED that the Mayor of the County of Hawaii or <br />his duly authorized representative is hereby authorized to execute the <br />lease agreement and any other documents required to induce financing <br />entities to provide funding for the project. <br />BE IT FURTHER RESOLVED that a copy of this resolution be <br />transmitted to the Office of the Mayor, the Department of Finance, and <br />the Office of Housing and Community Development. <br />Dated at Kona Hawai i, this 13th day of August 2008. <br />COUNTY COUNCIL <br />County of Hawai' i <br />Hilo, Hawaii <br />I hereby certify that the foregoing RESOLUTION was by the <br />vote indicated to the right hereof adopted by the COUNCIL <br />of the County ofHawai'ion August 13, 2008 <br />ATTEST: <br />~l <br />COUNTY CLEI <br />ROLL CALL VOTE <br /> AYES NOES ABS EX <br />FORD X <br />HIGA g <br />HOFFMANN X <br />IKEDA X <br />JACOBSON X <br />NAEOLE X <br />PILAGO X <br />YAGONG X <br />YOSHIMOTO }{ <br /> 9 0 0 0 <br />Reference C-1350/CHA-..7/22/08 <br />RESOLUTION NO. ~®~ ®8 <br />