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REPORT OF THE <br />COMMITTEE ON FINANCE <br />DATE: April 30, 2014 Re: Comm. No. 829/Res. No. 392-14 <br />PLACE: Council Chambers <br />Kona, Hawaii <br />TIME: 10:50 a.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />Your Committee on Finance, to which was referred Resolution No. 392-14, reports as follows: <br />Resolution No. 392-14, transmitted by Finance Director Nancy Crawford, via Communication No. 829 <br />dated April 14, 2014, authorizes the exchange of Road Reserve A, Tas Map Key: 9-6-008-061. <br />The resolution remedies encroachment issues by the County onto private lands and a private entity onto <br />county lands by authorizing land exchanges and transfers in the Wood Valley Homestead Subdivision in <br />Pahala. <br />There was no discussion on this measure. <br />Pursuant to Section 2-115, the Hawaii County Code provides that no exchange of real property for <br />private property shall be made except for public purposes, and the real property exchanged shall be of <br />substantially equal value to that of private land. In any exchange, the fair market value of the private <br />land and the County -owned land shall be separately determined by a disinterested qualified appraiser or <br />appraisers and the cost thereof shall be borne equally between owner and the County. <br />Your Committee on Finance is in accord with the purpose and intent of Resolution No. 392-14, and <br />recommends its adoption. <br />sc <br />Respectfully submitted, <br />COMMITTEE ON FINANCE <br />VALERIE T. POINDEXTER, CHAIR <br />FC REPORT NO.: 166 <br />ADOPTED: MAY 1 3 2014 <br />AYES NOES ABS EX <br />EOFF <br />X <br />FORD <br />X <br />ILAGAN <br />X <br />KANUHA <br />X <br />KERN <br />X <br />ONISHI <br />X <br />POINDEXTER <br />X <br />WILLE <br />X <br />YOSHIMOTO <br />X <br />Respectfully submitted, <br />COMMITTEE ON FINANCE <br />VALERIE T. POINDEXTER, CHAIR <br />FC REPORT NO.: 166 <br />ADOPTED: MAY 1 3 2014 <br />