HomeMy WebLinkAboutREP FC 141 03/24/1986 1984-1988 {
OFFICE INFORMATION ONLY
Meeting: May 7 , 196,
Action: FC Rept. 141 was deferred at the request of the
HRA. Manager.
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411 REPORT OF THE III
COMMITTEE ON FINANCE
Date: March 24 , 1986 Re: Comm. 475
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 156-86 ,
reports as follows :
The purpose of Resolution 156-86 is to approve the Hawaii
Redevelopment Agency 's Downtown Hilo Tax Increment Financing Plan .
Act 267 , Session Laws of Hawaii 1985 , requires that a "Tax Increment
Financing Plan" be submitted to the County Council as the plan for
tax increment financing for a tax increment district .
Resolution 15°6-86 makes reference to the Hawaii Redevelopment
Agency's Hilo Tax Increment Financing Plan as including 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 . Your Committee heard from the Director of
Finance that his financial and budgetary impact statements have not
been completed as of this date .
Your Committee concurs with the approval of the Hawaii Redevelopment
Agency 's Downtown Hilo Tax Increment Financing Plan , provided that
the Department of Finance 's financial and budgetary impact statements
are found favorable by the Council .
41101./L1VIA
FRANK DE LUZ III, CHAIRMAN
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ORRA"� NE . ITCHAKU-II(OUYE/V.C. S L. K. DAHLBE', , u AMBER
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TAKASHI DO NGO, ME "%ER SSELL S. KOKUBU ' , MEMBER
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MERLE . LAI, MEMBER SP , ER K. SCHUTTE, MEMBER
FC REPORT NO . 141
LA/MS/HAT ADOPTED :