HomeMy WebLinkAboutREP FC 087 2018/03/13 (2016-2018) REPORT OF THE
COMMITTEE ON FINANCE
DATE: March 13, 2018 Re: Comm. No. 785/Res. No. 520-18
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. 520-18, reports as follows:
Resolution 520-18, transmitted by Finance Director Deanna S. Sako, via Communication
No. 785 dated February 23, 2018, authorizes the payment of funds of a later fiscal year and of more than
one fiscal year for a multi-year lease of real property for the County of Hawai`i Office of the Legislative
Auditor.
This resolution authorizes the Mayor to enter into a five-year lease agreement with New Kaiko`o
Building, Inc., beginning May 1, 2018, with an option for a five-year extension, for space in the Bank of
Hawai`i Building located at 120 Pauahi Street, Hilo. The expected cost of this lease is $1,838.20 per
month.
Council Member Herbert M. "Tim" Richards, III, stated it is his understanding that the Legislative
Auditor will be moving from their current location, to which Bonnie Nims, Legislative Auditor,
confirmed. Hamana Ventura, Property Manager also commented that this space is more convenient, and
further added that the rent is comparable.
Council Member Jennifer Ruggles asked about the current rent amount. Ms. Nims stated that the
County is paying about$2,000 per month, of which approximately$1,930 is for rent and the remainder
isfor the CAM (Common Area Maintenance) fee.
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 520-18, and
recommends its adoption.
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AYES NOES ABS EX Respectfully submitted,
CHUNG X
DAVID x COMMITTEE ON FINANCE
EOFF X
KANUHA X
LEE LOY X ��--,
O'HARA X r." �
POINDEXTER x AILE DAVID, ' ' '
RICHARDS X FC REPORT NO.: 87
RUGGLES X - ADOPTED: MAR 8 7 018