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VMtV ar p <br /> tP ~l.~l .,4. <br /> <br /> Stephen K. Yamashiro 1tu~ Harry A. Takahashi <br /> Mayor Director <br /> S. K. Schutte <br /> r..___ ~ _ Depaty <br /> County of Hawaii J ~ ' ~ i t, .l <br /> DEPARTMENT OF FINANC$-. <br /> M?Yr <br /> 25 Aupuni Strcet, Room 118 • Hilo, Hawaii Q'd~~2~ <br /> (808) 961-8234 (808)961-8248 <br /> December 3, 1997 <br /> The Honorable Aaron Chung, Committee Chairperson <br /> and Committee Members <br /> Committee On Finance <br /> Hawaii County Council <br /> Hilo, Hawaii <br /> Re: Resolution 187, Relating to Sale of Road Remnant <br /> Your Committee has deferred action on Resolution 187 pending further information. <br /> Attached is a letter from Glenn S. Hara, Attorney at Law, indicating that he represents Inventure <br /> Development, Corp. and that his client requests that it be allowed to acquire the road remnant which <br /> passes through their parcel. Contact should be done through Mr. Hara. <br /> Section 2-118 of the Hawaii County Code provides for the disposition of remnant parcels and it also <br /> provides that the independent appraisal, survey work and preparation of environmental assessment can <br /> be at the buyer's expense. Mr. Hara's client has taken the initiative to have the independent appraisal <br /> done and the market value of the 12,458 sq. ft. is $5,600. (See Attached.) <br /> The Real Property Tax Office has assessed valuations of $14,500/acre($.33/Sq. Ft.) for TMK 3-2- <br /> 3:16(4.781 acres), $16,200/acre($.37/Sq.Ft.) for TMK 3-2-3-:17(4.460 acres.) and 51;000 for 9,100 sq. <br /> ft.($5.60/Sq. Ft.) for TMK 3-2-3:38. It is noted that TMK 3-2-3:38 is actually 16,901 sq. ft. in size. <br /> However, a portion of it is not usable because of a gulch; as such, only 9,100 sq. ft. is used for <br /> valuation. <br /> Mr. Hara has indicated that he would like to be in attendance when this matter is brought up in <br /> Committee again. Please have your staff inform Mr. Hara when this matter is rescheduled. <br /> Should there be any further question, please feel free to call. <br /> Sincerely, <br /> ~ ~ ~ <br /> i C~~ <br /> Harry A. Takahashi <br /> Finance Director r <br /> Cow. )liw 7 <br /> cc: Gerald Takase, Deputy Corporation Counsel Fllo Ito._____ ~C>G <br /> Stanley Iwamoto <br /> fie P. ?o: <br /> [zEt. Date ~ 0 4 1997 <br /> <br />