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HomeMy WebLinkAboutREP FC 068 05/31/2011 2010-2012 REPORT OF THE COMMITTEE ON FINANCE DATE: May 31, 2011 Re: Comm. No. 215/Bill 54 PLACE: Council Chambers Hilo, Hawaii TIME: 1:33 p.m. Council Chair and Members Hawaii County Council Hilo, Hawaii 96720 Your Committee on Finance, to which was referred Bill 54, reports as follows: Bill 54, transmitted by Finance Director Nancy Crawford via Communication 215 dated May 16, 2011, a bill for an ordinance amending two sections of Chapter 12, Article 3 of the Hawaii County Code 1983 (2005 Edition, as amended), Relating to Improvements by Assessments. The purpose of this bill is to improve efficiency and reduce costs by allowing additional options in tax assessment frequency contained in Section 12 -34 and by amending the default criteria contained in Section 12 -40, which would allow for consolidation of delinquencies for foreclosure proceedings when it is in the best interest of the County. An additional housekeeping amendment in Section 12 -40 is included to delete the reference to an obsolete section number. Director of Finance Nancy Crawford, Department of Finance Treasury Division Treasurer Mike Okumoto appeared before Your Committee. Ms. Crawford reiterated the purpose of this amendment is stated in the cover letter that 1) increasing efficiency and assist members in the improvement district(s) keeping cost at the lowest possible by allowing additional options, and 2) foreclosure period is extended to one year. Furthermore, Ms. Crawford added that although administration makes recommendations, however it is by council action that determines the annual installment amounts. Some members of Your Committee support administration offering options to prevent and assist homeowners during this economic hardship. Corporation Craig Masuda appeared before Your Committee and referred to Chapter 12 of the County code's definition section, regarding the term "assessment unit ", per Ms. Ford's inquiry. Your Committee on Finance is in accord with the purpose and intent of Bill 54, and recommends it pass first reading. dkr AYES NOES A &E EX Respectfully submitted, BLAS X FORD X COMMITTEE ON FINANCE HOFFMANN X IKEDA X ONISHI X PILAGO X SMART x BRENDA FO , CHAIR YAGONG X FC REPORT NO. 68 1 5 2 O 11 YOSHIMOTO X ADOPTED: JUN