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Hawai`i State Office of USDA Rural Development, the USDA has indicated that DWS's <br /> application for up to $353,369.00 of RUS grant funds and $1,169,000.00 of RUS loan funds for <br /> the Improvement District is being considered by the USDA, subject to the conditions specified <br /> therein; and <br /> WHEREAS, the total amount of RUS grant and loan funds, together with a $47,000.00 <br /> applicant contribution specified in the USDA Letter of Conditions, is sufficient to pay the <br /> estimated cost of the proposed Improvement District (as further discussed herein) and, in view of <br /> the potential benefits of such funding, DWS is proceeding with the actions necessary to satisfy <br /> the conditions specified in the USDA Letter of Conditions in order to obtain a firm commitment <br /> of the RUS grant and loan funds for the Improvement District; and <br /> WHEREAS, a public meeting was held with respect to the proposed Improvement <br /> District on November 17, 2010, which was attended by over 50 residents of the Subdivision; and <br /> WHEREAS, on March 16, 2011, pursuant to Section 12 -10(c) of the Hawai`i County <br /> Code, the Council adopted Resolution No. 41 -11, proposing the establishment of an <br /> Improvement District for the Subdivision; and <br /> WHEREAS, Resolution No. 41 -11 provided that, pursuant to Hawai`i County Code <br /> Section 12 -28, the public hearings relating to special improvements and the establishment of the <br /> special Improvement District shall be combined; and <br /> WHEREAS, Resolution No. 41 -11 also provided that a combined public hearing was to <br /> be held within sixty (60) days after adoption of the resolution, and that the last day of the 60 -day <br /> period, was May 15, 2011; and <br /> WHEREAS, Section 12 -28 of the Hawai`i County Code requires certain documentation <br /> be prepared prior to the combination hearing; and <br /> 2 <br />