HomeMy WebLinkAboutCOM 0794.000 2012-2014 William P.Kenoi
�' ' Nancy E.Crawford
Mayor ; .•�!` y'/t* Director
• _ Deanna S. Sako
or N►��``.• Deputy Director
County of Hawaii
Finance Department
25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720
(808)961-8234 • Fax(808)961-8569
March 28, 2014 co
ri
3 Yoshimoto, Council Chair and rn
Members of the Hawai`i County Council
Hawai`i County Council Ar =
25 Aupuni Street
Hilo,Hawai`i 96720
Re: Capital Budget
Enclosed is a bill for an ordinance amending the Operating Budget to increase the current fiscal
year's County Housing Program Revolving Fund, fund balance from prior year's revenues to
$2,000,000, and to appropriate these funds into the Transfer to Capital Projects Fund account.
Kamakoa Nui provides affordable, fee simple workforce housing in the Waikoloa area. The first
phase of this project includes a total of 91 lots. As of March 18, 2014, 4 model-units have been
constructed, and 26 homes and/or lots have been sold.
The Office of Housing and Community Development.(OHCD) is concurrently requesting an
additional capital appropriation to contract the construction of the remaining 45 homes in FY2013-
14: This transfer will partially fund the appropriation,with the County Housing Program Revolving
Fund to be repaid with proceeds of the home sales. The OHCD indicates that time is of the essence,
and requests that this bill be waived from the Finance Committee, and be place on the April 16,
2014 Council Agenda.
If there are any questions,please do not hesitate to call Stephen Arnett, Housing Administrator at
961-8379.
gd6,1Nancy rawford
Director of Finance
Enc.
cc: OHCD
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Comm. No. 79
Ref. To: °C UL
Ref. Date MAR
Hawaii County is an Equal Opportunity Provider and Employer
Form #: B-52
7/18/91
DEPARTMENT OF FINANCE
REQUEST FOR COUNCIL ACTION
DEPARTMENT: Office of Housing and Community Dev. DATE: 3/21/14
STAFF CONTACT: Stephen Arnett PHONE: 961-8379
A. REQUEST:
Please prepare a bill to amend Ordinance No. 13-65, as amended, the Operating Budget for the County of
Hawaii for the Fiscal Year ending June 30, 2014 to add revenue and appropriate the same for the County
Housing.Program Revolving Fund:
154.3609.61 Fund Balance from Prior Year - Designated $2,000,000.00
New Acct# Needed Transfer to Capital Projects Fund $2,000,000.00
B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED):
Kamakoa Nui provides workforce housing in the Waikoloa area. These affordable fee simple homes are for
those earning between 80% and 140% of the average median income with preference given to first-time
homeowners working within the specified radius.
The first phase of Kamakoa Nui includes a total of 91 lots. As of March 18, 2014, 4 models have been
constructed and 20 homes and 6 lots have been sold. Sales at Kamakoa Nui have been very active and
buyers are now being wait listed for the next lots to be released.
The Office of Housing and Community Development (OHCD) is concurrently requesting an additional capital
appropriation to contract the construction of the remaining 45 homes in FY 2013-2014. This transfer will
partially fund the appropriation, and will be paid back at a later date to the Revolving Fund with the proceeds
of the home sales. Since time is of the essence, the OHCD asks for a Finance Committee waiver. The
OHCD believes it is in the County's best interest to keep the momentum of the project going and lock-in
construction costs from future inflation.
SIGNED: —e , DATE: ..17-111,-(
■ Department Head
»�rOiN
VALERIE T. POINDEXTER . KAREN EOFF
Chairperson ^ �L�%y BRENDA FORD
.: ' '! - ..> DRU KANUHA
GREGGOR ILAGAN -y'T'�=-- ' ZENDO KERN
Vice Chair DENNIS�*' -.t•'►•`.- "FRESH"ONISHI
•°'�.-* MARGARET WILLE
J YOSHIMOTO
HAWAII COUNTY COUNCIL
County of Hawai'i
Hawaii County Building
25 Aupuni Street
Hilo,Hawaii 96720
March 31, 2014
J Yoshimoto, Council Chair
Hawai`i County Council
25 Aupuni Street
Hilo, Hawai`i 96720
RE: Bill No. 234 : An Ordinance to Amend Ordinance No. 13-65, as Amended,the
Operating Budget for the County of Hawai`i for the Fiscal Year Ending June 30, 2014.
Pursuant to Section 2(g) of Rule 4 of the Rules of Procedure of the Council of the County of
Hawaii, this written request is submitted with my approval that the above-referenced matter be
waived from the Committee on Finance to the full Council for immediate action. In reviewing
this matter,timely approval is crucial. It is therefore advantageous that approval is granted and
the matter be placed onto the next Council agenda for review. However, in the event this request
is denied, for whatever reason, I understand the matter shall be referred to the Committee on
Finance for placement on its future agenda.
Sincerely,
V?"14U 692-ebde,V-1. „/"---)
Valerie T. Poindexter, Chair
Committee on Finance
Approved/Date/Waive to Council: Disapproved/Date/Refer to FC:
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J Yoshimoto, Council Chair J Yoshimoto, Chairperson
Hawai`i County Council - - - Hawai`i County Council
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Hawai`i County is an Equal Opportunity Provider and Employer