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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: January 23, 2018 Re: Comm. No. 695/Res. No. 476-18 <br /> PLACE: Council Chambers <br /> Kailua-Kona, Hawai`i <br /> TIME: 2:40 p.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. 476-18, reports as follows: <br /> Resolution No. 476-18, transmitted by Finance Director Deanna S. Sako, via Communication No. 695 <br /> dated January 4, 2018, authorizes the Director of Finance to negotiate a seventy-five year lease with the <br /> Hawai`i Island Community Development Corporation (HICDC) for the purpose of development and <br /> construction of Hale Ola 0 Mohouli Affordable Senior Rental Housing Project at a set lease rental <br /> amount of$100 per year. <br /> HICDC would construct approximately 200 rental units on property identified as Tax Map <br /> Key: 2-4-001:168, containing an area of 9.091 acres, that was acquired from the State of Hawai`i for the <br /> purpose of developing affordable housing. <br /> There was no discussion on this measure. <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 476-18, and <br /> recommends its adoption. <br /> dmm <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID x COMMITTEE ON FINANCE <br /> EOFF X <br /> KANUHA X <br /> LEE LOY XAeS <br /> O'HARA X <br /> POINDEXTER x MAILE DAVID, CHAIR <br /> RICHARDS X FC REPORTNO.: 0 � 20185 <br /> RUGGLES X ADOPTED: FEB <br />