HomeMy WebLinkAboutRES 338 Draft 01 1988-1992(~ l.T m_.
t COUNTY OF HAVI~~~ t.~;3STATE OF HAWAII
RESOLUTION No,
33t:3 9I
WHEREAS, Transcontinental Development Co., a Texas
general partnership ("TDC"), requested and obtained from the
County certain approvals (the "Approvals") relating to resort
zoning designations and hotel room densities in the Waikoloa
Beach Resort as contained in County of Hawaii Ordinances 85-75
and 85-76 (the "Zoning Ordinances"), subject to the satisfaction
of certain requirements for affordable housing (the "Housing
Requirements") imposed by the County in exchange for the
Approvals; and
WHEREAS, following negotiations between representatives
of TDC and the County, the Hawaii County Council issued
Resolution No. 420-88 dated April 6, 1988 (the "Housing
Resolution"), and TDC and the County entered into that certain
Memorandum of Agreement dated March 2, 1988 (the "Housing
Memorandum") by which TDC agreed to convey to the County and the
County agreed to accept the conveyance of three hundred (300) net
acres of residential land in Waikoloa, South Kohala, Island,
County and State of Hawaii (the "Dedicated Land") in full
satisfaction of all Housing Requirements imposed by the County in
exchange for the Approvals; and
WHEREAS, by mesne conveyances and documents, including,
without limitation, Deed dated
Bureau of Conveyances in Liber
Leases and Contracts and Assume
1989, WDC has succeeded to the
Land, has agreed to assume the
Housing Memorandum, the Zoning
Resolution, and is entitled to
TDC there-under; and
April 25, 1989, recorded in the
23110 at Page 1, and Assignment of
~tion Agreement dated April 25,
interest of TDC in the Dedicated
obligations of TDC under the
Ordinances and the Housing
receive the benefits granted to
WHEREAS, by Hawaii County Housing Agency Resolution No.
54 dated April 19, 1989 (the "Project Authorization Resolution"),
the Hawaii County Housing Agency approved of the development by
Schuler of a "demonstration" affordable housing project (the
"Project") on certain property within the Dedicated Land, now
described as Lot 3 of the Waikoloa School Site Subdivision, as
shown on File Plan 2038 filed in the Bureau of Conveyances of the
State of Hawaii (the "Project Site"); and
WHEREAS, it is anticipated that when complete, the
Project will contain approximately 180 single family residences
situated upon 50 net acres of residential land for affordable
housing purposes; and
WHEREAS, the County and WDC have agreed that the
conveyance of the Project Site to Schuler for development of the
Project would be credited toward the obligations of WDC under the
Housing Memorandum and the Housing Resolution as if the Project
Site had been conveyed by WDC to the County, leaving WDC with a
balance of 250 net acres of residential land to convey to the
County under the Housing Memorandum and the Housing Resolution;
and
WHEREAS, each of the parties hereto wishes to achieve
an objective (the "Objective"), the Objective of the County being
the construction, on the Project Site, of a demonstration
affordable housing project serving the needs of residents of the
County of Hawaii whose incomes fall within the range of incomes
designated by the County as an affordable housing need group; the
Objective of WDC being the receipt of credit from the County of
50 net acres of residential land within the Project Site toward
the obligation of WDC under the Housing Memorandum and the
Housing Resolution to convey 300 net acres of residential land to
the County; and the Objective of Schuler being the right and
ability to develop an affordable housing project on the Project
Site in a manner which provides a reasonable profit consistent
with the risk incurred; and
WHEREAS, WDC, Schuler and the County wish to enter into
this Agreement in order to allow each of the parties to achieve
its respective Objective;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
COUNTY OF HAWAII that the Mayor is hereby authorized to execute a
Tri-Party Development Agreement among the County of Hawaii, a
municipal corporation, Waikoloa Development Company, a Hawaii
limited partnership and James K. Schuler and Associates, Inc., a
Hawaii corporation to develop a demonstration Affordable Housing
Project; and
BE IT FURTHER RESOLVED that the County Clerk be
directed to forward true copies of this Resolution to the
Waikoloa Development Company, the James K. Schuler and
Associates, Inc. and the Office of Housing and Community
Development.
Dated at Hilo, Hawaii, this 3rd day of July ,1991.
INTRODUCED BY:
.-~-~.~. S . ~_~t,.d.die-,
Councilma , County of Hawaii
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
I hereby certify that the foregoing RESOLUTION was by
the vote indicated to the right hereof d pled by the C UNCIL
of the County of Hawaii on ~u~y 3, 99
ATTEST:
''~j/j~^~,~~ ~ Reference
C~NTY CLERK CHAIRMAN & PRESI ING OFFICER RESOLUTION NO. ~~~ ~1
ROLL CALL VOTE
AYES NOES ABS EX
ARAKAKI X
DE LIMA X
DOMINGO
HALE X
KOKUBUN
LAI X
MAKUAKANE X
RUDDLE
SCHUTTE X
8
0
1
0
JM~V or y,~
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~~TE Oi~N'Nr~
Office of
and Com
50 Wailuku Drive • Hdo, Hawau 96720 • (8081961-8379 • Fax (8081935-4725
June 26, 1991
TO: Russell S. Kokubun, Chairman
Hawaii County Council
FROM: Harry S. Ruddle, Chairman
Hawaii County Housing Agency
SUBJECT: Waikoloa Affordable Housing Project
Resolution for the Hawaii County Council
Lorraine R. Inouye
Mayor
Brian T. Nishimura
Housing Administrator
The OHCD has submitted to the HCHA a Resolution authorizing the
Mayor of the County of Hawaii to execute a Tri-Party Agreement
with Waikoloa Development Company and James K. Schuller and
Associates for the Waikoloa Housing Project.
The HCHA has reviewed and approved the Resolution at its meeting
on June 26, 1991. Accordingly, I am requesting that the
Resolution be included on the Council agenda for action at its
July 3, 1991 meeting.
Attach.
xc: Brian T. Nishimura, Administrator
EQUAL HOUSING OPPORTUNITY