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<br /> <br /> <br /> OMYY O! y,~ <br /> Harry Kim y Wae: William Takaba <br /> Sluynr Director <br /> i. <br /> Nancy E. Crawford <br /> +rNr~ :q!•~ Deputy Director <br /> • os NAY <br /> County of Hawaii <br /> Finance Department <br /> 25 Aupuni Mice(, Room I 18 • I Ii1o, I Iawaii 96720 rv <br /> (908) 961-9234 • Fax(908)961-8248 m <br /> O <br /> October 16, 2008 c`( ( - <br /> D-1 a"} <br /> ;f l_ r3 <br /> Pete Hoffmann, Chairman and <br /> Members of the Hawai'i County Council .71 -o - <br /> Hawai'i County Council T 3 171 <br /> 25 Aupuni Street <br /> Hilo, Hawai'i 96720 <br /> vt <br /> Re: Capital Budget <br /> Enclosed is a bill for an ordinance adding the Waikoloa Connector Roads project for <br /> $350,000 to the Capital Budget. The objective of this appropriation is to study the feasibility <br /> to use a Community Facilities District (CFD) to finance the construction of a connector <br /> road from Waikoloa Village to Queen Ka'ahumanu Highway. Initially $35,000 of the <br /> $350,000 appropriation is needed to complete the CFD feasibility study for this connector <br /> road. If feasible, additional allotments from this appropriation would be requested to fund <br /> the creation of the CFD, with the possibility that all or a portion of the formation costs <br /> advanced by the County would be reimbursed by the CFD and/or developers. <br /> Waikoloa Village is presently a large cul-de-sac. The need for an alternate access road is <br /> heightened by the increasing congestion, by public safety concerns for efficient <br /> evacuation, and by proposed developments such as the County's affordable housing <br /> project. A CFD has the potential to accelerate the construction of this road and to allocate <br /> a proportionate share of those costs among existing residents and new development. <br /> If there are any questions, please do not hesitate to call the Planning Department. <br /> <br /> <br /> William Takka <br /> Director of Finance <br /> <br /> APPROVED: <br /> <br /> <br /> <br /> Harry Kim' <br /> S, Mayor <br /> <br /> Enc. <br /> <br /> cc: Planning Canto: /S.30 <br /> 11 ~ Hawaii County is an Equal Opportunity Provider and Employer Ref. TO; F <br /> } Ref. Date T-;-,) pp08 <br />