HomeMy WebLinkAboutREP FC 244 12/03/1986 1984-1988 411
REPORT OF THE
COMMITTEE ON FINANCE
Date: November 24, 1986 /Re: Comm. 819
Place: Councilroom
Time: 10: 30 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill 284, reports as *
follows :
Bill 284 proposes to amend Ordinance 86-63, the Operating Budget for
Fiscal Year 1986-87 , by increasing the Transfer from General Fund of
the County Housing Fund by 1150,000 and appropriating same to the
County Housing Revolving Account .
The purpose of Bill 284 is to provide an appropriation of 1150,000
for a Housing Preservation Grant program. The program is to provide
a home repair loan program for low and very low income families
living in rural areas . Loans will range from 35 ,000 to $15,000 .
Countyfunds will be matched on a 1 :1 basis bythe USDA Farmers Home
-
Administration (FmHA) . It is estimated that 16 to 48 very low and
low income families may be eligible to benefit from the below market
low interest home repair loan program.
Your Committee on Finance is in accord with the intent and purpose of
Bill 284 and recommends that it p,p, first reading .
Adaalalw
FRANK DE LUZ III, CHAIRMAN
•R' j NE Apr TCHAKU NOU 'E, V.C. L. K. DAHLBER , MEMBER ,
4,(Azatef
TAKASHI DO NGO, ME4BER " -SELL S. KOKUBU , MEMBER
/
MERLE . LAI, MEMBER SPENCER K. SCHUTTE, MEMBER
i
LA/H `T
FC REPORT Noe 244
ADOPTED : DEC 3 1986