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purchase the unsold units or lots. If a unit or lot is not under contract for sale by the end of the one hundred and eighty days, such unit or lot shall be offered for sale to persons who are otherwise eligible, but have previously owned a residence, for an additional period of thirty days. If a unit or lot [cannot be sold] is not under contract for sale after the [one hundred twenty day] two hundred ten -day period, the developer may sell the unit or lot to any person at the affordable sales price. [The Agency may also purchase the unit or lot after the ninety day preferential marketing period at the affordable sales price.] Notwithstanding the foregoing, at any time after the initial ninety -day preferential marketing period, the Agency may authorize the County to purchase any unsold unit or lot at the affordable sales price. (f) For sale units shall be sold on aper unit basis using mortgages where the term is fixed for a minimum of at least fifteen years." SECTION 5. Chapter 11, article 1, section 11 -12, of the Hawai`i County Code 1983 (2005 Edition, as amended) is repealed in its entirety: [ "Scction 1 1 1 2. Use ,.fin lieu fees project is necessary to satisfy a critical housing need. "] SECTION 6. Material to be repealed is bracketed and stricken. New material is underscored. In printing this ordinance, the brackets, bracketed and stricken material, and underscoring need not be included. SECTION 7. Severability. If any provision of this ordinance or the application thereof to any person or circumstance is held invalid, such invalidity does not affect other provisions or application of the ordinance which can be given effect without the invalid provision or application, and to this end, the provisions of this ordinance are severable. SECTION 8. This ordinance shall take effect upon its approval. , Hawai`i Date of Introduction: Date of 1 st Reading: Date of 2nd Reading: Effective Date: ICEFERENCL: Comm. 299.2 TRODUCED BY: COUNCIL MEMBER, COUNTY OF HAWAII 5