HomeMy WebLinkAboutRES 528 Draft 01 2006-2008OFFICE INFORMATION ONLY
Meec;ng: March 25, 2008 -Council Meeting (32"d Session)
Action: Filed Resolution 528-08
FC Report 259 transmitted the above resolution for with a "negative"
Recommendation.
Re: C-1001/Resolution 528-08/FC-259
COUNTY OF HAWAII
RESOLUTION NO.
STATE OF HAWAII
528 08
A RESOLUTION APPROVING A RESIDENTIAL ASSISTANCE PROGRAM FOR
QUALIFIED COUNTY OF HAWAII EMPLOYEES.
WHEREAS, the County of Hawaii has had extreme difficulty recruiting and retaining a
number of positions in various departments and agencies; and
WHEREAS, mortgage assistance programs are being implemented in municipalities
across the country for both recruitment and retention purposes; and
WHEREAS, a county loan program, dubbed the "Residential Assistance Program for
Qualified County Employees" (Program), would serve as a helpful recruitment tool, assisting
departments and agencies in, not only attracting, but retaining high-quality public employees;
and
WHEREAS, employees from all County departments and agencies could potentially
qualify for the Program; and
WHEREAS, the following conditions would apply to the Program:
1. It would be limited to one-time participation only;
2. The loan application can only be submitted after successful completion of 1.2 months
of employment;
3. The mayor may waive the 12 month period at his or her discretion on a case-by-case
basis, particularly for recruitment purposes;
4. The loan would be available on a first-come, first-serve basis, but would be limited to
201oans per year;
5. When the Program limit is reached, County employees will be placed on a waiting list
and will be notified when a loan is available;
6. The waiting list will be administered by the Department of Finance;
7. The loan would be toward the down payment of the purchase of a home;
8. The home purchased is not required to be "new" construction;
9. The property must be owner occupied;
10. The loan is available only to first-time Hawaii Island homeowners;
11. The maximum loan amount may not exceed $20,000;
12. The duration of the loan would be up to 10 years; and
13. For each year the employee works for the County of Hawaii, the county would pay
$2,000 toward the principal of the loan; and
WHEREAS, should the Program be implemented, the Finance Department shall draft the
necessary program documents, determine funding sources, and work with financial institutions
on the specific details to successfully implement the Program; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that the
County Council authorizes the mayor or his or her designee to execute the Residential Assistance
Program for County Employees.
BE IT FURTHER RESOLVED that the mayor or his or her designee is further
authorized to execute such documents, such as refinance documents, as may be necessary to
effectuate the Program.
BE IT FINALLY RESOLVED that the Clerk of the County of Hawaii transmit copies
of this resolution to the Mayor, the Director of the Finance, and all other County of Hawaii
department and agency heads.
Dated at , Hawaii, this day of
2008.
INT DUPED B ...
CfJ
COUNCI EMBER, COUNTY OF HAWAII
COUNTY COUNCIL ROLL CALL VOTE
County of Hawaii AYES NOES ABS EX
Hilo, Hawaii
[ hereby certify that the foregoing RESOLUTION was by
the vote indicated to the right hereof adopted by the COUNCIL of the
County of Hawaii on
FORD
HIGA
HOFFMANN
IKEDA
JACOBSON
NAEOLE
ATTEST:
COUNTY CLERK CHAIRMAN & PRESIDING OFFICER
P[LAGO
YAGONG
YOSHIMOTO
Reference: C-1001/F'C
RESOL,uTION No. 528 " 08