HomeMy WebLinkAboutCOM 0560.003 2022-2024HO`OMALU AT WAIKOLOA LP
1100 ALAKEA STREET', 27rn FL(()R
HONOLUT.U, HI 96813
October 27.2023
Via Email transmittal
Mall Kaneah'i-Kleinfelder
Chair and Presiding Officer
County Council
County of Hawaii
Hawaii County Building
25 Aupuni Street
Hilo, IlawaN 96720
Re: 'Testimony in Support of Resolution 331-23 — Resolution Authorizing the Otiice
of Housing and Community Development to Award Funds to Various
Organizations for Programs Addressing Affordable Housing
Dear Chair Kancali`i-Klcinfelder and Council Members:
Ho'omalu at WaikoloaLP writes to express support of Resolution 331-23 that authorizesthe Office
of Housing and Community Development ("OHCD") to provide grants, in the amount of S17.3
million, to various organizations in support of affordable housing.
Specifically, we are writing to provide additional information on our development of Ho`omalu at
Waikoloa in Waikoloa, Hawaii. The 229-unit, workforce rental housing development will include
one (1) manager unit and will offer two hundred twenty-eight (229) affordable rental units to
families and households who earn from 30% of the Area Median Income ("AMI") up to 100"% of
the AML Thus, IIo'omalu at Waikoloa will address IlawaN County's critical need for affordable
housing solutions.
Ho'omalu at Waikoloa aspires to improve the lifestyle and quality of living for its residents. The
project also demonstrates unwavering commitment to the futures of Hawai`i's children as
IIo`omalu at Waikoloa will provide a child care facility for its residents and the surrounding
community. In summary, the development will infuse much needed, multi -family aflordable rental
units into the County of Hawai`i's housing inventory.
The grant award from OHCD's Affordable Housing Production Program will reduce the long-term
debt funding of Ho`omalu at Waikoloa by subsidizing a portion of the project's construction costs.
These grant awards will also ensure long-term affordability and sustainabihty of affordable
housing for the County of Ilawai`i.
Corn".. No. �•
Ref. To:
Ref. Date
Malt Kaneali`i-Kleinfelder, Chair and Presiding Officer October 27, 2023
Page 2
We appreciate the opportunity to offer testimony on this measure, and we ask for your favorable
consideration of OHCD's grant awards.
Sincerely,
HO`OMALU AT WAIKOLOA LP,
a Hawaii limited partnership
By: SCD I lo`omalu LLC
a Hawaii limited liability company
Its: General Partner
By: Stanford Carr Development, LLC,
a Hawaii limited liability company
Its: Manager
By:
Name: Stanford S. Carr
Its: Manager