HomeMy WebLinkAboutREP FC 464 02/08/1988 1984-1988 111 REPORT OF THE
COMMITTEE ON FINANCE
Date: February 8, 1988 Re: Comm: 1476
Place: Councilroom
Time: 10 :00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill 491, reports
as follows:
Bill 491 proposes to amend Ordinance 87-58, the Operating Budget for
Fiscal Year 1987-88, by increasing revenues in Account No. 3301 .55 , •
Federal Grants, Rental Rehab Program, Housing, by $107,000, and
appropriating same to Account No. 150-461-5464. 13-115, Rental Rehab
Program, Housing.
Your Committee on Finance has learned that the U. S. Department of
Housing and Urban Development has agreed to provide funds for the
rehabilitation of rental units located in the Hilo area.
Your committee has further learned that this grant, which will be
implemented through the Office of Housing and Community Development,
operates in the following manner : An owner will receive funds to
renovate a housing unit, provided that a low-income family be
allowed to lease the unit after the renovations are completed.
Subsequently, a voucher will be issued to an eligible lower income
family which agrees to live in that unit for a minimum of one year .
Your Committee on Finance is in accord with the intent and purpose
of Bill 491 and recommends that it pass first reading.
(ABSENT & EXCUSED)
FRANK DE LUZ III, CHAIRMAN
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l'illirOR'��• NE R `ii' CHAKU-I AUYE, C. - 1 L. K. DAHLBERG, MEMBER,
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(ABS NT & EXCUSED'.
TAKASHI D INGO, MEMBER z' RUSSELL S. KOKUBUN, MEMBER
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ME'_ E K. LAI, " ,_- SPENCER K. SCHUTTE, MEMBER
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FC REPORT N0 . 464
ADOPTED : FEB7 ‘6ttla