HomeMy WebLinkAboutREP FC 086 2018/03/13 (2016-2018) •
REPORT OF THE
COMMITTEE ON FINANCE
DATE: March 13, 2018 Re: Comm. No. 782/Res. No. 519-18
PLACE: Council Chambers
Hilo, Hawai`i
TIME: 9:03 a.m.
Council Chair and Members
Hawai`i County Council
Hilo, Hawai`i 96720
Your Committee on Finance, to which was referred Resolution No. 519-18, reports as follows:
Resolution 519-18, transmitted by Finance Director Deanna S. Sako, via Communication No. 782 dated
February 23, 2018, accepts payment of in-lieu fee in the amount of$23,600 by Wainani 42 LLC, to
partially satisfy Condition"L" of Ordinance No. 98-66.
This resolution partially satisfies the affordable housing requirement for the development of 50 units for
Phase II of this development project, located at Puapua'a 1st and 2"d, North Kona, covered by Tax Map
Key: 7-3-010:027.
Neil Gyotoku, Housing Administrator, gave a brief explanation of the resolution. Mr. Gyotoku stated
the $23,600 is the second part of the in-lieu fee agreement with Wainani 42 LLC. This development is
located on the bottom portion of Ka`iminani in Kailua-Kona.
Council Member Dru Kanuha asked how long it would take to satisfy all the in-lieu fees. Mr. Gyotoku
responded that this is the second payment of the second phase. Wainani 42 LLC has the potential of
developing ninety-one (91) more units. Payment is made after every increment.
Council Member Karen Eoff asked Mr. Gyotoku how the money being paid helps to build more
affordable housing. Mr. Gyotoku stated that the check provided to the Office of Housing, through this
resolution, is put into the Housing Revolving fund, which is deposited and can be used for any housing
project within a twenty-five (25) mile radius of Wainani 42. He also stated it could be used for other
projects to be developed or improve existing projects around that area.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 519-18, and
recommends its adoption.
dmm
AYES NOES ABS EX Respectfully submitted,
CHUNG X
DAVID X COMMITTEE ON FINANCE
EOFF X
KANUHA X
LEE LOY X
O'HARA X / i;� N■r/a
POINDEXTER x AILE DA • D, CHAIR
RICHARDS X FC REPORT NO.: 86
RUGGLES x ADOPTED: MAR 2 8 ZO18
•