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HomeMy WebLinkAboutRES 363 Draft 02 1988-1992COUNTY OF HAVIt~., rta~:;~~'ATE OF HAWAII RESOLUTION No (DRAFT 2) 363 91 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 means conveyances and documents, including, without limitation, Deed dated April 25, 1989, recorded in the Bureau of Conveyances in Liber 23110 at Page 1, and Assignment of Leases and Contracts and Assumption Agreement dated April 25, 1989, Waikoloa Development Company (WDC) has succeeded to the interest of TDC in the Dedicated Land, has agreed to assume the obligations of TDC under the Housing Memorandum, the Zoning Ordinances and the Housing Resolution, and is entitled to receive the benefits granted to TDC there-under; and WHEREAS, the Hawaii County Housing Agency, by action taken on July 24, 1990, reviewed the preliminary Waikoloa Master Plan and authorized the additional funding for an Environmental Impact Statement; and WHEREAS, the Environmental Impact Statement was completed and approved on April 30, 1991; and WHEREAS, the County and WDC have agreed that the conveyance of that certain property described as Lot 5 of the Waikoloa School Site Subdivision as shown on file plan 2038 would be credited with the conveyance of 250 net residential acres of land toward the obligations of WDC under the Housing Memorandum and the Housing Resolution; and WHEREAS, on January 15, 1991, approved the selection process for a Master Developer and on February 22, 1991, the Mayor and the Chairman of the HCHA jointly announced the selection of Nansay Hawaii Inc. (Nansay) ae the Master Developer of Waikoloa Project; and WHEREAS, it is the objective of the County to develop an experimental and 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; and WHEREAS, it is the objective of Nansay through the Waikoloa Housing Corporation (WHC), a wholly owned subsidiary of Nansay, to receive Housing Credits, for anticipated monetary losses of about $10,000,000 projected by WHC to Master Plan and develop an experimental and demonstration affordable housing project; and WHEREAS, WHC 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 an Agreement between the County of Hawaii, a municipal corporation and Waikoloa Housing Corporation, a wholly owned subsidiary of Nansay Hawaii Inc., a Hawaii corporation, or any other wholly-owned subsidiary, to develop affordable housing and other related community development uses of Nansay Hawaii Inc. BE IT FURTHER RESOLVED that the County Clerk be directed to forward true copies of this Resolution to the Waikoloa Housing Corporation and the Office of Housing and Community Development. Dated at Hilo, Hawaii, this 21St day of AllCJllSt 1991. INTRODUCED BY: COUNTY COUNCIL County of Hawaii Hilo, Hawaii I 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 11t14ust 21, 1991 ATTEST: COU~N~CLERR AIRMAN & PRESIDING OFFICER S Council , County of Hawaii ROLL CALL VOTE AYES NOES ABS EX ARAKAKI X DE LIMA X DOMINGO HALE X KOKUBUN LAI X MAKUAKANE RUDDLE X SCHUTTE Reference RESOLUTION NO. `~ 9Z (DRAFT 2) COUNTY OF HAVIF,A~,~;:.STATE OF HAWAII RESOLUTION No 363 91 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 Rohala, 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 means conveyances and documents, including, without limitation, Deed dated April 25, 1989, recorded in the Bureav of Conveyances in Liber 23110 at Page 1, and Assignment of Leases and Contracts and Assumption Agreement dated April 25, 1989, Waikoloa Development Company (WDC) has succeeded to the interest of TDC in the Dedicated Land, has agreed to assume the obligations of TDC under the Housing Memorandum, the Zoning Ordinances and the Housing Resolution, and ie entitled to receive the benefits granted to TDC there-under; and WHEREAS, the Hawaii County Housing Agency, by action taken on July 24, 1990, reviewed the preliminary Waikoloa Master Plan and authorized the additional funding for an Environmental Impact Statement; and WHEREAS, the Environmental Impact Statement was completed and approved on April 30, 1991; and WHEREAS, the County and WDC have agreed that the conveyance of that certain property described as Lot 5 of the Waikoloa School Site Subdivision as shown on file plan 2038 would be credited with the conveyance of 250 net residential acres of land toward the obligations of WDC under the Housing Memorandum and the Flousing Resolution; and WHEREAS, on January 15, 1991, approved the selection process for a Master Developer and on February 22, 1991, the Mayor and the Chairman of the HCHA jointly announced the selection of Nansay Hawaii inc. (Nansay) ae the Master Developer of Waikoloa Project; and WHEREAS, it is the objective of the County to develop an experimental and 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; and WHEREAS, it is the objective of Nansay through the Waikoloa Housing Corporation (WHC), a wholly owned subsidiary of Nansay, to receive Housing Credits, for anticipated monetary losses of about $10,000,000 projected by WHC to Master Plan and develop an experimental and demonstration affordable housing project; and WHEREAS, WHC 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 an Agreement between the County of Hawaii, a municipal corporation and Waikoloa Housing Corporation, a wholly owned subsidiary of Nansay Hawaii Inc., a Hawaii corporation, or any other wholly-owned subsidiary, to develop affordable housing and other related community development uses of Nansay Hawaii Inc. BE IT FURTHER RESOLVED that the County Clerk be directed to forward true copies of this Resolution to the Waikoloa Housing Corporation and the Office of Housing and Community Development. Dated at Hilo, Hawaii, this 21St day of August 1991. INTRODUCED BY: S nt.H,,l,Llt„ 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 adopted by the COUNCIL of the County of Hawaii on Anrn~at 2l . 1991 ATTEST: ROLL CALL VOTE AYES NOES ABS EX ARAKAKI DE LIMA DOMINGO HALE KOKUBUN LAI MAKUAKANE RUDDLE SCHUTTE Reference COUNTY CLERK CHAIRMAN & PRESIDING OFFICER I RESOLUTION NO. 363 9Z