RES 519 Draft 01 2012-2014 - Laserfiche WebLink

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Council Chair J Yoshimoto and Hawai'i County Council Members September 8, 2014 Page 2 • That the estimated wastewater generation from the assessment units within the Improvement District represent 247 SFEs; • That the net cost of the Improvements is estimated to be $2,437,000 (i.e., $6,461,800 total cost less $4,024,800 USDA/RUS grant); • That the assessments will be fixed at $9,868 per SFE (i.e., $2,437,000 net cost divided by 247 SFEs); and • That the assessments, if paid in annual installments over the term to maturity of the Bonds, including annual debt service and administrative costs, will equal $541 annually per SFE. Subsequent to the submission of the Director's Report, the County received certain information indicating that the proposed assessment of certain properties within the Improvement District may have been based on inaccurate information regarding the actual uses of such properties. In view of such information, the County undertook a further review of the Proposed Assessment Roll and proposed certain revisions based on this review. After property owners were afforded an opportunity to review and comment on the proposed revisions, the revisions to the Proposed Assessment Roll were finalized and incorporated into the amendments to the Director's Report set forth below. Another change to the Director's Report is the incorporation of HRS §46-74.1, HRS §46-74.2 and County Code §12-5, which exempts qualifying nonprofit organizations from the improvement district assessments and shifts the assessment from the nonprofit organizations to the County, together with the right of protest, unless and until such time as the organization sells or leases its property to a person or entity that is not a qualifying nonprofit corporation. Also contributing to the delay in submitting this change was the decision to wait for the receipt of a Non-Development Pledge Agreement from the Laniakea Foundation. The Laniakea Foundation had indicated that a filing of a conservation easement on their property was forthcoming. Due to the significant effect the inclusion or exclusion of their assessment has on the rest of the improvement district, a written indication of their intent was requested and received from the Laniakea Foundation. Finally, an alternate sewer line route was explored to exclude the commercial lots on the southern border of the improvement district. A cost-benefit analysis did not provide a conclusive case to change the original route. Amendments to Director's Report Based on the foregoing, the undersigned hereby adopts, and submits to the Council for approval, the following amendments to the Director's Report: County of Hawai'i is an Equal Opportunity Provider and Employer.