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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: February 3, 1998 Re: Comm. No. 585/Res. No. 187 <br /> PLACE: Councilroom <br /> TIME: 11:30 A.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Resolution No. 187, reports as follows: <br /> Resolution No. 187, transmitted by Finance Director Harry Takahashi, via Communication <br /> No. 585, dated November 5, 1997, authorizes the sale of the road remnant referred to as the Old <br /> Mamalahoa Highway, located at Ninole, abutting Tax Map Keys (3)3-2-03:016, 017 and 038 in <br /> North Hilo, County and State of Hawaii, and designated in Parcel 31-B, Government Road <br /> Remnant (SDR 3(15)), as shown in Exhibit A. <br /> The abutting property surrounding the subject road remnant on all sides is owned by Inventure <br /> Development, Inc. who is desirous of acquiring the subject right-of--way. The County of Hawaii <br /> Department of Public Works finds that the subject parcel provides limited service and is <br /> economically and physically unsuitable or undesirable for development or utilization as a <br /> sepazate unit by reason of size, location and shape. <br /> Therefore, pursuant to Section 2-110(3), the Hawaii County Code, the subject road remnant is <br /> declazed to be abandoned and otherwise a discontinued parcel. Furthermore, pursuant to <br /> Section 2-118, Hawaii County Code the County of Hawaii is authorized to sell the subject right- <br /> of-way without recourse to public auction to Inventure Development, Inc., the abutting owner. <br /> <br /> Resolution No. 187 further states that Inventure Development, Inc., the buyer of the subject <br /> right-of--way, be required to assume the entire cost of transferring the subject property. <br /> <br /> This resolution was originally heard on December 2, 1997, and deferred pending a site visit to <br /> <br /> the said remnant, and appraisal information from the interested party. <br /> <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 187 and <br /> <br /> recommends its adoption. <br /> <br /> lkc <br /> Ayes IYoea A&E EX <br /> Respectfully submitted <br /> CHUNG X <br /> LEITHEAD-TODD X COMMITTEE ON FINANCE <br /> RAY X <br /> SANTANGELO X / J~ /t~- <br /> SMITH X l~ <br /> TYLER X AARON S.Y. C G, C <br /> YAGONG X FC RE RT NO. ~ 210 <br /> ARAxAIa, ~ o.,x. x ADOPTED: FEB 1 8 1598 <br /> <br />