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• JatYOFq'^ H COUNTY OF HAWAII i+k \-= '/I*._ - STATE OF HAWAII •I FE OF.NA:}1 RESOLUTION NO. 476 18 RESOLUTION AUTHORIZING THE DIRECTOR OF FINANCE TO NEGOTIATE A SEVENTY-FIVE YEAR LEASE WITH THE HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION FOR THE PURPOSE OF DEVELOPMENT AND CONSTRUCTION OF HALE OLA 0 MOHOULI AFFORDABLE SENIOR RENTAL HOUSING PROJECT AT A SET LEASE RENTAL AMOUNT OF $100.00 PER YEAR. WHEREAS, on April 7, 2017, the County of Hawaii,through its Office of Housing and Community Development, acquired a parcel 9.091-acres, situated at Tax Map Key(3) 2-4-001:168 from the State of Hawai`i for the purpose of developing an affordable housing project for seniors and other related public purposes; and WHEREAS,Chapter 2,Article 19, Section 2-120(a)(2), Hawaii County Code, as amended, provides that the County Council may direct the Finance Director to negotiate the disposition of real property by lease to non-profit organizations as such rentals and on such terms and conditions as deemed proper without notice or appraisal; and WHEREAS,the Office of Housing and Community Development has determined that the Hawai`i Island Community Development Corporation (HICDC) is a non-profit organization with extensive experience in the development of self-help and affordable housing for low- and moderate- income households; and WHEREAS,the HICDC proposes to construct approximately 200 affordable senior rental housing units; and WHEREAS, the HICDC will seek funding for the project, and carry out its development through to occupancy, at which time operations will be taken over by an experienced management company; and WHEREAS,the proposed project will target senior citizens with low-to moderate-income levels; and WHEREAS,the proposed project will increase rental housing opportunities for low-and moderate-income senior citizens; now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI'I,that the Finance Director is hereby authorized to negotiate a seventy-five year lease with the HICDC for the purpose of planning, developing, and constructing a rental housing project for senior citizens at a set lease rental amount of One Hundred Dollars($100.00) per year. BE IT FURTHER RESOLVED that the Mayor of the County of Hawai`i or his duly authorized representative is hereby authorized to execute the lease agreement and any other documents required to induce financing entities to provide funding for the project. 1