Laserfiche WebLink
<br /> <br /> <br /> <br /> Form B-52 <br /> 7/18/91 <br /> DEPARTMENT OF FINANCE <br /> <br /> REQUEST FOR COUNCIL ACTION <br /> <br /> <br /> DEPARTMENT: Planning Department DATE: 10/8/08 <br /> <br /> <br /> STAFF CONTACT: Brad Kurokawa PHONE: 961-8288 . <br /> <br /> <br /> A. REQUEST: <br /> <br /> Request to amend Ordinance 08-79 Capital Improvement Budget, to add an appropriation for the following <br /> new project: <br /> Waikoloa Connector Roads- $350,000 <br /> <br /> <br /> <br /> <br /> <br /> <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> <br /> A Project Data/Financial Impact Statement is attached. <br /> <br /> The objective of this appropriation is to study the feasibility to use a Community Facilities District (CFD) to <br /> finance the construction of a connector road from Waikoloa Village to Queen Kaahumanu Highway. Initially <br /> $35,000 of the $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 the creation of the <br /> CFD, with the possibility that all or a portion of the formation costs advanced by the County would be <br /> 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 heightened by the <br /> increasing congestion, by public safety concerns for efficient evacuation, and by proposed developments <br /> such as the County's affordable housing project. A CFD has the potential to accelerate the construction of <br /> this road and to allocate a proportionate share of those costs among existing residents and new <br /> development. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> SIGNED: DATE: <br /> Departent Head <br />