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AWEEMC-4 Page 2 March 12,2019 <br /> yet started; that the first step is the resolution before Council today to obtain approval from <br /> County to allow an extension of the sewer line. Once this is approved,the IDP will begin, <br /> however preliminary discussions with the Administration, the County of Hawai`i Bond Counsel, <br /> Mr. Brian Hirae of Honolulu, and the Hawai`i County Corporation Counsel. He further stated <br /> County <br /> since the developers are the property owners,they will be compliant under Hawai`i Co ty <br /> Code, Chapter 12, as 100 percent community buy-in. Developer owns 100 percent of the lands <br /> to be assessed and will pay for all ID bonds so no approval is necessary from any other property <br /> owner. Upon approval today, the IDP will start by a petition to be submitted by RFCF for a 100 <br /> percent IDP that will come before Council again for approval; upon approval of that process, <br /> additional resolutions will need to be heard by Council before entire matter is completed, which <br /> may include a year's worth of resolutions before final bonds are issued. At the very end of the <br /> process, Council will enact an ordinance approving the issuance of bonds. County will issue the <br /> bonds, underwriter(who is already in place)will buy bonds, which currently comes in at$8 <br /> million and increasing. No public hearing necessary as they are the only land owners affected. <br /> County of Hawai`i will not have any financial obligations; all costs to be borne by developers. <br /> In the event there is a default on the bonds, County of Hawai`i will not be responsible. <br /> Attorney Tom Yeh added that HICDC's projected timeline to hook up would be Summer 2021 <br /> or Fall 2021. Once all approvals are in place, HICDC will hook up easily without having its <br /> property assessed as all downstream owners will benefit from this project. <br /> Council Member Kierkiewcz thanked the attorneys for their explanation, noting her appreciation <br /> for the opportunity to have those downstream benefit; like the flow line via gravity at Kailua- <br /> Kaneohe sewer tunnel on O`ahu. <br /> Committee Chair Richards thanked the applicant and the attending attorneys for their presence <br /> and explanation. <br /> Your Committee on Agriculture, Water, Energy, and Environmental Management is in accord <br /> with the purpose and intent of Resolution 86-19, and recommends its adoption. <br /> db <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID X COMMITTEE ON AGRICULTURE, WATER, <br /> EOFF X ENERGY,AND ENVIRONMENTAL <br /> KANEALI`I-KLEINFELDER X MANAGEMENT <br /> KIERKIEWICZ X <br /> LEE LOY XI I <br /> I <br /> POINDEXTER X HERBERT M. "TIM"RICHARDS, III, CHAIR <br /> RICHARDS X AWEEMC REPORT NO.: 4 <br /> VILLEGAS X ADOPTED: MAR 2 8 2019 <br />