2020-09-09 BOR Minutes - Laserfiche WebLink

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Ended executive session at 3:09 p.m. Executive session was entered to review the county code on assessing property at 100% market value with Corporation Counsel. Discussions on the intended use and it's market value per unit. Mr. Okumoto moved to adjust the value to approximately $9.9 million for all 162 units, close to the stabilized value (sales price of $7.7 million plus the intended renovation costs of roughly $1.7 million and $500,000 for AOAO fees). Seconded by Mr. Harano. A call for discussion was made. Mr. Hughes is in support of the motion if County can maintain the land value and the difference be allocated to the units. Mr. Harano amended the motion to decrease the $500,000 AOAO fees to $325,000. Seconded by Mr. Okumoto. Motion passed by a vote of 3:0. County confirmed the building value would be $9.725 million to be allocated between the units. Note: Ms. Reinhard returned for the remainder of the hearing. SETTLEMENTS — 1:30 PM APPEALS AGENDA County presented to the Board a 1 -page Appeals Agenda containing information on 2 cases that had reached settlement agreements (copies provided to the Board) between the County and the respective appellants. A copy of the agenda is attached hereto as Exhibit B. A call for questions was made. Mr. Hughes questioned the land value for Case No. 39432. Appraisal Supervisor Dionne Costa responded for the County. A call for questions was made. Mr. Harano moved to accept the settlements as presented. Seconded by Ms. Reinhard. A call for discussion was made. Motion passed by a vote of 4:0. OLD BUSINESS: No old business was discussed. NEW BUSINESS: No new business was discussed. ANNOUNCEMENTS: Complaint Hearing is scheduled for Thursday, October 15, 2020 at 9:00 a.m. at the Aupuni Center Conference Room, Hilo, Hawaii. Board members expressed their appreciation for Ms. Reinhard's 5 -year service to the County. Ms. Reinhard's term expires on December 31, 2020. Tax Board of Review I September 9, 2020 Page 5 of 6