HomeMy WebLinkAboutCOM 0654.000 2006-2008 MtY O/~
Harry Kim ~ ~ William Takaba
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NancyE' Crawford
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County of Hawaii
Finance Department
25 Aupuni Stree[, Room 118 • Hilo, Hawxif 96720
(808) 961-8234 Fax (808) 961-8248
August 29, 2007
Pete Hoffmann, Chairperson and
Members of the Hawaii County Council
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Amendment to the Hawaii County Code
Enclosed is a bill for an ordinance amending Chapter 19, Article 1, Section 19-53(a) of the
Hawaii County Code 1983 (2005 Edition, as amended), relating to Real Property Tax
Valuations.
The Waikoloa Workforce Housing project is a County supported housing project created using
a land trust model and including certain restrictions designed to maintain perpetual
affordability. Market data and cost approaches which incorporate comparison with the
surrounding Waikoloa area will not be appropriate for this project, so special valuation
consideration is requested. The purpose of this measure is to amend Section 19-53(a) to
provide for special consideration in determining the values of properties in the Waikoloa
Workforce Housing Project, due to its unique characteristics.
If there are any questions, please do not hesitate to call Wesley Takai, Real Property Tax
Administrator.
h,
William~~~
Director of Finance
APPROVED:
Harry Kim
~ Mayor S
Comm. No.
Enc. Ref. To:
Ref. Uate $EP
cc: Wes Takai, RPT
~~yy ee ~t HawaYi County is an Equal Opportunity Provider and Employer
PVW ( 1~~
Form B-52
7/18/91
DEPARTMENT OF FINANCE
REQUEST FOR COUNCIL ACTION
DEPARTMENT: Finance DATE: 08/22/07
STAFF CONTACT: Wes Takai PHONE: x8286
A. REQUEST:
Amend Section 19-53(a) to allow special consideration in valuation of properties within the Waikoloa Workforce
Housing project, due to their unique characteristics.
B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED):
The Waikoloa Workforce Housing project is a County supported housing project created using a land trust model
and including certain restrictions designed to maintain perpetual affordability. Market data and cost
approches which incorporate comparison with the surrounding Waikoloa area will not be appropriate for this
project, so special valuation consideration is requested.
SIGNED: ~ DATE: 3~~+
_Department ead