HomeMy WebLinkAboutRES 156 Draft 01 1984-1988 p
OFFICE INFORMATION ONLY
Meeting: May 7, 1986
Action: FC Rept. 141 and Res . 156-86 was deferred at the
request of the HRA Manager.
Re:
COUNTY OF HAWAII STATE OF HAWAII
RESOLUTION No.
WHEREAS, Act 267 of the S. L. H. 1985 allows a county to exercise
any power necessary and convenient to establish tax increment
districts; and
WHEREAS, any county may provide for tax increment financing by
approving a Tax Increment Financing Plan; and
WHEREAS, Resolution No . 59-85 , adopted on June 5 , 1985 , adopted
the Downtown Hilo Redevelopment Plan aimed at revitalizing downtown
Hilo; and
WHEREAS, the Hawaii Redevelopment Agency desires to establish
tax increment financing as part of its Downtown Hilo Redevelopment
Plan and has developed a tax increment financing plan which contains
estimates of: project costs; amount of tax increment bonds to be
issued; sources of revenue to finance or otherwise pay project
costs ; the most recent assessed value of taxable real property in
the district; the duration of the district 's existence; and
statements from the County 's Department of Finance regarding the
financial and budgetary impact on the county resulting from the
proposed tax increment financing plan; and
WHEREAS, this Council has studied and reviewed the Downtown
Hilo Tax Increment Financing Plan , and after discussion and
deliberations , this Council finds that the tax increment financing
plan is in accord with redevelopment financing techniques and is in
the best interest of the people of this county.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF
HAWAII that it hereby approves the Hawaii Redevelopment Agency 's
Downtown Hilo Tax Increment Financing Plan .
BE IT FURTHER RESOLVED that the Clerk of the Hawaii County
Council transmit copies of this resolution to Mayor Dante K.
Carpenter , Finance Director Joseph Andrews , Planning Director
Albert Lyman , and the Hawaii Redevelopment Agency .
Dated at Hilo, Hawaii , this day of , 1986 .
INTRODUCED BY:
COUNCILMEMBER, COUNTY OF HAWAII
COUNTY COUNCIL ROLL CALL VOTE
County of Hawaii
Hilo, Hawaii AYES NOES ABS EX
DAHLBERG
DE LUZ
I hereby certify that the foregoing RESOLUTION was by DOMINGO
the vote indicated to the right hereof adopted by the COUNCIL HERKES
of the County of Hawaii on JITCHAKU-INOUYE
KOKUBUN
ATTEST: LAI
SCHUTTE
YAMASHIRO
Reference C-475/FC-
RESOLUTION NO 156 86
COUNTY CLERK CHAIRMAN& PRESIDING OFFICER