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William P.Kenoi <br /> �' ' Nancy E.Crawford <br /> Mayor ; .•�!` y'/t* Director <br /> • _ Deanna S. Sako <br /> or N►��``.• Deputy Director <br /> County of Hawaii <br /> Finance Department <br /> 25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720 <br /> (808)961-8234 • Fax(808)961-8569 <br /> March 28, 2014 co <br /> ri <br /> 3 Yoshimoto, Council Chair and rn <br /> Members of the Hawai`i County Council <br /> Hawai`i County Council Ar = <br /> 25 Aupuni Street <br /> Hilo,Hawai`i 96720 <br /> Re: Capital Budget <br /> Enclosed is a bill for an ordinance amending the Operating Budget to increase the current fiscal <br /> year's County Housing Program Revolving Fund, fund balance from prior year's revenues to <br /> $2,000,000, and to appropriate these funds into the Transfer to Capital Projects Fund account. <br /> Kamakoa Nui provides affordable, fee simple workforce housing in the Waikoloa area. The first <br /> phase of this project includes a total of 91 lots. As of March 18, 2014, 4 model-units have been <br /> constructed, and 26 homes and/or lots have been sold. <br /> The Office of Housing and Community Development.(OHCD) is concurrently requesting an <br /> additional capital appropriation to contract the construction of the remaining 45 homes in FY2013- <br /> 14: This transfer will partially fund the appropriation,with the County Housing Program Revolving <br /> Fund to be repaid with proceeds of the home sales. The OHCD indicates that time is of the essence, <br /> and requests that this bill be waived from the Finance Committee, and be place on the April 16, <br /> 2014 Council Agenda. <br /> If there are any questions,please do not hesitate to call Stephen Arnett, Housing Administrator at <br /> 961-8379. <br /> gd6,1Nancy rawford <br /> Director of Finance <br /> Enc. <br /> cc: OHCD <br /> < Z;A\ '1'bt-0) <br /> Comm. No. 79 <br /> Ref. To: °C UL <br /> Ref. Date MAR <br /> Hawaii County is an Equal Opportunity Provider and Employer <br />