HomeMy WebLinkAboutCOM 0063.000 2006-2008 Phone: (808) 326-5421
. Fax: (808) 329- 4786
w
BRENDA FORD, E-Mail: bford@co.hawaii.hi.us
Council Member, District 7
.J~
~
OI.N'.~~
r`r.
G->
GS
r`~ V
HAWAII COUNTY COUNCIL O~ 2
z
County of Hawaii
Kailua Trade Center C..1
75-5706 Hanama Place, Suite /09 ~ ~
Kailua-Kona, Hawaii 96740 ` ~
r-
January 2, 2007
i~
TO: Pete Hoffmann, Chairman
and Members of the Hawaii County Council
FROM: Brenda Ford, Council Member o~ ~ r
SUBJECT: Bill Amending Chapter 2, Article 42, Hawaii County Code 1983 (2005 Edition, as
Amended) Relating to the Public Access, Open Space and Natural Resources
Preservation Fund.
Attached is a Bill amending Chapter 2, Article 42, Hawaii County Code 1983 (2005 Edition, as
Amended) Relating to the Public Access, Open Space and Natural Resources Preservation Fund.
Hawaii County voters resoundingly passed the Ballot Initiative question in November to
set aside 2% of County property taxes each year to preserve land for public access, open space and
natural resources. As you know, this November ballot measure was the result of the Save Our Lands
Citizen's Committee volunteers collecting almost 10,000 signatures to get this measure on the ballot this
past November.
The attached bill sets forth the process to set aside 2% of property taxes in the Open Space Fund
with the dates coinciding with the collection of property taxes twice per year. According to Bill Takaba,
Finance Director, the County of Hawaii should enjoy a sizable surplus this year. Property taxes for the
fiscal year 2006- 2007 were projected as $183,695, 000. Taxes, penalties and interest collected as of
12/27/06 were $102,829,462. The second half of taxes is due as of February 20, 2007. Since the 2%
Ballot Initiative became law as of November 8th, 2006, I am proposing that 2% be set aside as the
second half of 2006 taxes are received and then prorated for the time from November 8 to the end of the
calendar year, 2006. The attached Bill also includes a provision to set aside the monies contained in the
Open Space Fund in a conservative interest bearing account.
Below, please find an excerpt from the bill that I am requesting that you introduce to the Council:
(5) Two percent [(-2°6)] of Hawaii County real property tax revenues collected annually
(including penalties). The deposit of these revenues into the fund shall occur twice
each year in coordination with the collection of real prooertv tax uavments. The first
Comm. No.~
Ref. To: ~
200
~g~ 1a\ Ref. Date la~~
/ Hawaii County /s An Equal Opportunity Provider And Employer
_ . m a
deposit into the fund shall occur on March 7 2007 and shall be calculated based on
all real propertv tax revenues (including penalties and interest) collected between
November 8 2006 and Februazv 28 2007. The second deposit into the fund shall
occur on September 7 2007 and shall be calculated based on all real propertv tax
revenues (includine penalties and interest) collected between Mazch 1, 2007 and
Aueust 31 2007 This deposit schedule shall continue with deposits beine calculated
based on real propertv tax revenues (including_penalties and interest) collected in the
six-month periods preceding March 1st and September 1st of each year and shall be
deposited on Mazch 7th and September 7th of each year respectively. All dates may
be adjusted to the next following day of business should said dates fall on a weekend
or holiday In addition the Treasurer shall invest all monies deposited into the fund
in a conservative interest-bearing account or accounts that allow monies to be
available for propertv acquisition and prevent any erosion of the fund's principal
amount.
I respectfully request that you place this bill on the agenda for the January 18`h, Finance Committee
meeting. If you have any questions regarding this bill, please do not hesitate to contact me.
BF/ dh