RES 179 Draft 01 2022-2024 - Laserfiche WebLink

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OF COUNTY OF HAWAIII STATE OF HAWAI'l SOLUTION NO. 179 23 I A RESOLUTION AUTHORIZING THE DIRECTOR OF FINANCE TO NEGOTIATE A SIXTY-FIVE YEAR LEASE WITH THE HOUSING AND LAND ENTERPRISE OF HAWAII COUNTY,DBA: HALE O HAWAII FOR THE PURPOSES OF DEVELOPMENT AND CONSTRUCTION OF A SINGLE-FAMILY HOME ON TAX j MAP KEY (3)2-4-024:157 FOR A PILOT COMMUNITY LAND TRUST PROGRAM AT A SET LEASE AMOUNT OF $10.00 PER YEAR. WHEREAS, on December 18, 2020, the County of Hawaii, through its Office of i Housing and Commuity Development, acquired a 0.2345-acre parcel, situated on Tax Map Key (3)2-4-024:157, from the State of Hawaii by way of Executive Order 4641 for the purpose of affordable housing and shelter purposes; and WHEREAS, State land under Executive Orders cannot be sold and are restricted to maximum lease terms of 65 years; and WHEREAS, the typical Community Land Trust transaction involves land that is held in fee by the Community Land Trust with a sale of the improvements to a qualified purchaser and an underlying 99 year ground lease that will ensure that the affordability status of the project is maintained during that entire term; and WHEREAS, the County of Hawaii through its Office of Housing and Community Development proposes to partner with Hale O Hawaii in a pilot project to enter into a 65 year ground lease with Hale O Hawaii who will finance and construct an affordable home that will be sold by Hale O Hawaii to an eligible purchaser with an underlying ground sublease, any subsequent resale of the affordable home will be subject to affordability restrictions; and WHEREAS, should this pilot project be successful, it would provide a template for the development of single family affordable housing on State owned lands under a land trust model that will open up a tremendous land resource and is a key strategy in the County addressing the lack of affordable housing; and WHEREAS, Chapter 2, Article 19, Section 2-120(a)(2), Hawaii County Code, as amended, provides that the Hawaii County Council may, by resolution approved by a majority of members, direct the Finance Director to negotiate the disposition of real property by leasing it to a non-profit organization, at such rentals and on such terms and conditions as deemed proper; and WHEREAS,the Office of Housing and Community Development has determined that the Housing and Land Enterprise of Hawaii County, dba: Hale O Hawaii is a non-profit organization with experience in the development of affordable housing for low and moderate income households; and