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Home My WebLink AboutREP FC 619 10/05/1992 REPORT OF THE COMMITTEE ON FINANCE Date: October 5, 1992 Re: Comm. 4167 Place: Councilroom Time: 9 : 00 a .m. Your Committee on Finance, to which was referred Resolution No. 524-92, reports as follows : The purpose of Resolution No. 524-92 is to request that the Mayor acknowledge and expedite the agreement of lease with Waikoloa Development Company and Waikoloa Land Company for the temporary fire and rescue facility in Waikoloa located on Lot 1, File Plan 1209 , TMK 6-8-03 : 19 , at a rate of $1 . 00 per year beginning on January 1, 1993 through December 31, 1997, or until a permanent facility is completed in the Waikoloa area, whichever is sooner . Section 10-11 of the County Charter states that any contract, lease or other obligation requiring the payment of funds from the appropriations of a later fiscal year or of more than one fiscal year shall be approved by resolution. Section 13-12 of the County Charter states that the Council, on behalf of the County, may accept gifts of donation of money, securities or other personal property or any interest in real estate. Pursuant to Section 19-84 (2) , real property under lease to the County which requires the County to pay the taxes upon such property, is exempt from taxation. Your Committee on Finance understands that the Waikoloa Development Company has already contributed approximately three (3) acres of land at a value in excess of $650, 000 for the construction of a permanent fire and rescue facility with a 24-hour advance life support medical and fire engine teams . The Waikoloa Development Company has also offered a five (5) year interium facility for a $1 a year lease worth approximately $132, 000 in loss revenues and an additional $30, 000 to be applied toward the cost of renovation of the existing building and addition to the equipment garage, in lieu of a 24-hour basic life support medical and fire engine teams beginning January 1, 1993 through December 31, 1997 . It is also understood that the County is to be responsible for real property taxes, utilities, insurance and maintenance costs . FC REPORT No. 619 ADOPTED: OCT 2 1 1992 1" FC- 619 Page 2 October 5, 1992 Your Committee understands that with the prior dedication of the 3-acre civic center site and the participation in the retirement of the bonded indebtness for the Kohala Coast Fire Station, Waikoloa Development Company has fulfilled all requirements under all police and fire related conditions of zoning, Special Management Area permit and subdivision approvals for the Waikoloa Village, Waikoloa Highlands and Waikoloa Beach Resort . Your Committee on Finance has recommended that Resolution 524-92 be amended by deleting "Special Management Area permit and subdivision . approvals for Waikoloa Village, Waikoloa Highlands and Waikoloa Beach Resort, inclusive of the Waikoloa Homesite golf course commitments" and inserting "existing at this time. " The Committee understands that the tax exemption will be for Lot 1 only. Your Committee of Finance is in accord with Resolution No . 524-92, Draft 2, and recommend its adoption. Respectfully submitted, COMMITTEE ON FINANCE AYES NOES ALONZO f I X 11411agallii - ARAKAKI X Y. A " , CHAIRMAN DE LIMA • X DOMINGO X LAI X MAKUAKANE X LA/DI RUDDLE X FC REPORT NO. 619 ADOPTED: