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Mtr os M <br /> <br /> Harry Kim William Takaba <br /> Mayor Direclor <br /> • Nancy E. Crawford <br /> iJ,•..• Depury Direcmr <br /> T~ Oi•M~~ <br /> County of Hawaii <br /> Finance Department <br /> 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720 <br /> (808) 96L-8234 • Pax (808) 961-8248 ~ <br /> c <br /> June 28, 2007 rv <br /> Pete Hoffmann, Chairman and <br /> Members of the Hawaii County Council - <br /> Hawaii County Council 'D <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: Waikoloa Workforce Housing Project <br /> The Waikoloa Workforce Housing (Kamakoa) Project is currently in the pre- <br /> development/design phase, with infrastructure construction expected to begin this <br /> summer. The total project is planned as a 1,200-unit development, however current focus <br /> is on Phase 1, which will include a mix of for sale and rental units. Phase 1 is also planned <br /> to include a park area, a community center, day care center, parking and a future school <br /> site, all of which are intended for public use for residents of the Waikoloa area. <br /> The project herein requested will be for all of the public facilities and the related <br /> infrastructure, and will also include additional infrastructure so that rental prices can be <br /> maintained in the affordable range. This appropriation will initially be used to provide for <br /> pre-development costs of the project, part of Phase 1 infrastructure and one park, known <br /> as Phase 1-A. As Phase 1-A proceeds, a Community Facilities District (CFD) will be <br /> formed and funds will be borrowed to complete Phase 1-B, which includes most remaining <br /> public community facilities. <br /> Ordinance No. 07-93, recently passed by the County Council, added the Waikoloa <br /> Workforce Housing Pre-Development Project, for $6,000,000, to the Capital Improvement <br /> Budget for Fiscal Year 2006-07. <br /> Enclosed is a bill for an ordinance adding the Waikoloa Workforce Housing Project for <br /> $34,000,000 to the Capital Budget. <br /> Also enclosed is a bill for an ordinance authorizing the issuance and sale of General <br /> Obligation Bonds of the County of Hawaii, in the principal amount not to exceed <br /> $40,000,000, for the aforementioned projects. <br /> B~RIo 12Z+123 Comm. No. ~DS <br /> Ref. To: <br /> Ref. Dote JUN 2 8 9neZ <br /> Hawaii County is an Equal Opportunity Provider and Employer <br /> <br />