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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: January 21, 1997 Re: Comm. No. 51 <br /> PLACE: Councilroom <br /> TIME: 10:43 A.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Communication No. 51, reports as follows: <br /> Communication No. 51, transmitted by Real Property Tax Administrator Gazy M. Kiyota, dated <br /> December 20, 1996, requests County Council approval for the real property exemption claim on <br /> the Volcano Block Building, TMK 2-3-03-06. <br /> In accordance with Section ] 9-53(9) of the Hawaii County Code, exemption claims were sent to <br /> the Department of Public Works and signed by David Murakami for the Chief Engineer. The <br /> improvements included the building being completely gutted and restored in compliance with <br /> historical preservation guidelines and requirements. <br /> Pursuant to Section 19-53(9) of the Hawaii County Code, "any increase in value resulting from <br /> any additions, alterations, modifications or other new construction, improvement, or repair work <br /> <br /> to buildings undertaken or made by the owner-occupant thereof pursuant to the requirements of <br /> any urban redevelopment, rehabilitation or conservation project under the provisions of part II of <br /> Chapter 53, Hawaii Revised Statutes, shall not increase the assessable valuation of any building <br /> for a period of seven years." <br /> Your Committee on Finance recommends the approval of the real property exemption claim for <br /> <br /> the Volcano Block Building. <br /> Ikc <br /> ny~ noes A&e ex Respectfully submitted <br /> CHUNC X <br /> LREAI'THEAD-TODD X fFTEE INANCE <br /> SANTANGELO X ~ 1 <br /> SMITH X - 1 ~ <br /> TYLER x AARON S.Y. CHUNG, CHA~ <br /> YAGONG X FC REPORT NQ. - 2 2 <br /> ARAKAKI, e.O.nf. ADOPTED: FEB 0 7 1997 <br /> <br />