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'4 `y OF p <br /> COUNTY OF HAWAI`I STATE OF HAWAI'I <br /> RESOLUTION NO. 51 25 <br /> A RESOLUTION AUTHORIZING THE EXEMPTION OF CERTAIN CODE <br /> REQUIREMENTS, PURSUANT TO SECTION 201H-38 OF THE HAWAI'I REVISED <br /> STATUTES, FOR THE HUALALAI COURT AFFORDABLE HOUSING PROJECT IN <br /> HILO, HAWAI'I, COVERED BY TAX MAP KEY(3) 2-4-028:009. <br /> WHEREAS, Hualalai Court, LLC ("DEVELOPER") proposes to build Affordable <br /> Housing and wish to continue the development of this project; and <br /> WHEREAS, the DEVELOPER has experience developing affordable housing and has <br /> successfully developed in excess of 585 low-income affordable rental units within the State of <br /> Hawai'i and the continental United States; and <br /> WHEREAS, the DEVELOPER now proposes to build the Hualalai Court("PROJECT") <br /> at 364 Hualalai Street in Hilo, Tax Map Key (3) 2-4-028:009, consisting of 3.2920 acres of land; <br /> and <br /> WHEREAS, the DEVELOPER proposes to build an affordable multi-family housing <br /> project consisting of 2-story structures designed for 104 affordable residential rental units for <br /> local families, consisting of 21 units serving households earning no more than 80% of the Area <br /> Median Income (AMI) and 83 units serving households earning no more than 100%AMI, for no <br /> fewer than 51 years after initial occupancy, and for the lifetime of the project, all of the units will <br /> be rented exclusively to qualified residents; and <br /> WHEREAS, the PROJECT will promote the goals contained in HRS Section 201H-38 <br /> and Chapter 11 of the Hawaii County Code, the County of Hawai`i affordable housing policy; <br /> now, therefore, <br /> BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI'I that it <br /> hereby authorizes the exemption of certain code requirements as provided in the attached Exhibit <br /> "A", pursuant to HRS Section 201H-38, for Hualalai Court. <br /> BE IT FURTHER RESOLVED that this resolution shall take effect immediately. <br />