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4E. Approval of amendments to Hawaii County Code, Chapter 11, <br /> to provide practicable parameters for satisfaction of an <br /> affordable housing requirement by conveyance of land. <br /> The Office of Housing and Community Development (OHCD) has <br /> drafted proposed amendments to Hawaii County Code, Chapter <br /> 11 (Chapter 11) to provide more practicable parameters for <br /> satisfaction of an affordable housing requirement by <br /> conveyance of land. These amendments were triggered by <br /> barriers in implementation of Chapter 11 - with specific <br /> regard to the appraisal value of land as it relates to <br /> market price fluctuations . <br /> Section 11-5. Satisfaction of affordable housing credits. <br /> (a) (5) Removal of the appraisal value of land as a <br /> determining factor in satisfaction by conveyance <br /> of land. <br /> Reduction of the affordable housing requirement by <br /> 50% for satisfaction by conveyance of land. <br /> ACTION: <br /> That the Hawaii County Housing Agency <br /> approve the attached ordinance and <br /> recommend its adoption by the Hawaii <br /> County Council . <br />