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DEPARTMENT OF FINANCE REPORT <br />Mr. Yada informed the Commission that the Waipi`o (Rice property) purchase is currently in <br />escrow and the sale should be closing within thirty days. This action was made possible by the <br />recent resolution (No. 296 -07) made by the Hawaii County Council which amended the <br />prioritized list to have Kawa`a and Waipi`o equally listed as number one. The County is now <br />working internally on the management for Waipi`o once the acquisition has been completed. <br />Mr. Yada also mentioned that Marcia Johnson has accepted the County's offer of $1,920,000 for <br />the purchase of Kawa`a. The 1.2 million dollars from the Legacy Land Fund (LLF) will go <br />towards the sale price and the remaining purchase amount will come from the open space fund. <br />Mr. Kaneshiro asked how much money is available in the open space fund. Mr. Yada replied <br />approximately 3.6 million. <br />Ms. Self then asked Mr. Yada on the status of the Olson properties in Kawa`a. Mr. Yada replied <br />that Lea Hong of the Trust for Public Lands (TPL) is working on a draft grant agreement to U.S. <br />Fish and Wildlife for approximately 1 million dollars towards the acquisition. Mr. Yada also <br />suggested that they go back to the LLF in 2008 to apply for additional funds for the purchase. <br />Mr. Yada then mentioned that we are still awaiting a response from Mr. Olson on what the cost <br />would be for all three parcels combined and further stated that the prospects are looking good. <br />Mr. Yung questioned the condition of having Mr. Abel Lui on the property. Mr. Yada stated that <br />the County will work on this when the sale has been completed. <br />Ms. Garcia then suggested that they have traditional caretakers create and establish themselves as <br />non - profit organizations to possibly manage the property. <br />Mr. Yada then mentioned that the Hawaii County Council passed three more resolutions for <br />acquisition purposes (Honolulu Landing, Wai`ele, Cape Kumukahi) which were all on the list. <br />However, the latest request for acquisition of Ocean Park, introduced by Council Member Emily <br />Naeole, was filed with no action due to disagreements and inconsistent use. Mr. Yada mentioned <br />that he met with some members of the Hawaiian Shores Community Association and informed <br />them to submit the necessary paperwork to get the property on the list. <br />OFFICE OF THE CORPORATION COUNSEL'S REPORT <br />Ms. Self addressed the Commission about the possibility of properties on the list ever being a <br />threat to the landowners. She said that there is no concern with the list created by the <br />Commission because neither the Commission nor the Mayor has authority to select lands on the <br />list to be purchased. Also, there doesn't appear to be any threat to landowners when the Council <br />passes a resolution to authorize the administration to negotiate purchase of property from the <br />Priority List either, because a resolution does not have the force or effect of law. <br />-2- <br />