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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: February 16, 2016 Re: Comm. No. 661/Res. No. 392-16 <br /> PLACE: Council Chambers <br /> Kona, Hawai`i <br /> TIME: 10:00 a.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Resolution No. 392-16, reports as follows: <br /> Resolution No. 392-16, transmitted by Finance Director Deanna S. Sako, via Comm. No. 661 <br /> dated January 28, 2016, authorizes the Mayor to enter into a multi-year Housing Assistance Payment <br /> Contract with Mohouli Senior, Phase 3, LLLP, owner of the Mohouli Heights Neighborhood Project <br /> Phase 3 Project, selected for the Section 8 Project-Based Voucher(PBV) Program as offered through a <br /> Public Notice dated August 16, 23, and 30, 2015. <br /> The purpose of the PVB Program is to encourage property owners to make available rental housing <br /> units to low-income families that are not within the current housing fair market rents. The Office of <br /> Housing and Community Development would like to assist 30 units in the County under the funding <br /> available for this purpose. <br /> Council Members Greggor Ilagan, Dennis "Fresh" Onishi and Danny Paleka attended from Hilo <br /> Council Chambers, and Council Member Dru Mamo Kanuha was absent and excused. <br /> A motion was made to amend the title of the resolution by deleting a duplicative reference to "of <br /> the," and was voted on and approved with 8 ayes. Mr. Kanuha was absent and excused. <br /> Ms. Sharon Hirota, Office of Housing and Community Development Specialist; and Mr. Jeremy <br /> McComber, Development Manager of the Hawai`i Island Community Development Corporation, <br /> both came forward for questions and comments. <br /> Several Council Members commented and raised questions. Ms. Hirota gave an overview, <br /> explaining that this agreement allows the County to contract with the developer for 30 elderly <br /> housing units for those who are eligible. She further explained that this partnership with the <br /> developer ensures that affordable units are available for fifteen years, and that the Housing and <br /> Urban Development Corporation puts out a standardized fair market rent amount, which amount <br /> cannot be exceeded in order to be eligible. <br /> Pursuant to Section 46-7, Hawai`i Revised Statutes, County departments must obtain the consent of the <br /> Council to enter into agreements with the Federal or State governments or any other public body or <br /> FC Report No.: 50 <br />