HomeMy WebLinkAboutCOM 0201.000 2006-2008 Pete Hoffmann ~sro.,, Phone No.Hilo~. (808)961-8027
Council Chair ~;~G Phone No. Waimea: (808) 887-2043
District 9 -North and Sauth Kohala Fax No.: (808) 887-2072
E-Mail: phoffmann@co.hawaii.hi.us
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HAWAII COUNTY COUNCIL m
County of Hawai `i - ~
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Hawaii County Building Holomua Center C
25Aupuni Street 64-1067 Mamalahoa Highway. Suite C-5
ffito, Hawai `i 96720 Waimea, HatJai7 967d3R
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February 20,2007 -
TO: Dominic Yagong
Finance Committee Chairperson
FROM: Pete Hoffmann
Council Chairperson
SUBJECT: Transmitting a re or a one-hour workshop on Community Facilities District
financing at the arch 8, 2007 Finance Committee meeting
Please reserve an hour of time at the March 8, 2007 Finance Committee meeting for a
presentation by Goodwin Consulting Group, represented by Mr. Dave Freudenberger, on
Community Facilities Districts (CFD) financing. This workshop will provide Council members a
brief overview of how this financing mechanism can be used to fund public infrastructure. Roy
Takemoto, Special Assistant to the Mayor, will also provide an update on the progress of the
proposed Waikoloa Regional Roadway CFD, which Goodwin Consulting Group has been
contracted by the County to research.
As background for the workshop, Chapter 32 of the Hawaii County Code provides authority for
formation of Community Facilities Districts (CFD) and issuance of tax-exempt, land-secured
bonds to fund public infrastructure, The presentation will provide information regarding the
fundamentals of CFD financing, including, but not limited to, the following:
• The process and timeline to form a CFD and issue bonds
The types of public facilities and community amenities that can be funded by a CFD
• Options available to allocate special taxes to property within a CFD
• Limitations on funding capacity available through a CFD
• Ongoing administrative requirements once a CFD is formed
• Why CFDs have been used consistently in California for the past 25 years
Att.
PH/Ic Comm. No.
Ref. To: G+L
Ref. Uate FEB 20 200?
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