HomeMy WebLinkAboutREP FC 608 08/31/1992 REPORT OF THE
COMMITTEE ON FINANCE
Date: August 31, 1992 Re: Comm. 4056
Place: Councilroom
Time: 9 : 00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution
No . 512-92, reports as follows :
The purpose of Resolution No. 512-92, from Planning Director
Norman K. Hayashi , is to request the County Council to accept
$1, 500, 000 . 00 in community benefit assessments from Waikoloa
Homesites Venture.
Section 13-12 of the Hawaii County Charter authorizes the County
Council to accept gift of donation on behalf of the County.
The $1, 500, 000 . 00 received from Waikoloa Homesites Venture is the
first of two equal installment pursuant to Special Management Area
(SMA) Use Permit No. 25 . The first payment was due upon receipt of
final plan approval and a grading permit for the golf course. The
second payment of $1, 500, 000 . 00 will be paid on the opening of the
golf course.
Your Committee understands that the Administration proposes to
utilize $500, 000 . 00 to cover a portion of the off-site electrical
costs for the Waikoloa Affordable Housing Project and $1, 000, 000 . 00
as the County' s share to match the State Transit Capital Development
Fund for the Transit Vehicle Enhancement Project .
Your Committee on Finance concurs with the intent of Resolution
No . 512-92 and recommends its adoption.
Respectfully submitted,
COMMITTEE ON FINANCE AYES NOES
401 ALONZO X
►7
ARAKAKI X
A T 1. Y ARA i:KI , CHAIRMAN DE LIMA
X
DOMINGO X
LA/DI L`�I X
MAKUAKANE X
RUDDLE X
FC REPORT NO. 608
ADOPTED: ' 1 6 1992