HomeMy WebLinkAboutREP FC 055 2019/10/01 2018-2020 REPORT OF THE
COMMITTEE ON FINANCE
DATE: October 1, 2019 Re: Comm. No. 495/Res. No. 323-19
PLACE: Council Chambers
Kailua-Kona, Hawai'i
TIME: 4:55 p.m.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution No. 323-19, reports as follows:
Resolution No. 323-19 transmitted by Finance Director Deanna Sako, via Communication No. 495 dated
September 13, 2019, authorizes the acceptance of a grant award of$100,000 from Hawaii Community
Foundation to fund the Hoowaiwai Financial Empowerment Center for Hawaii Island Pilot Program.
This resolution accepts a grant award from Hawaii Community Foundation for the Ho'owaiwai
Financial Empowerment Center for Hawaii Island Pilot Program. The program would provide free,
one-on-one professional financial counseling and other related services and resources to Hawaii County
residents.
Executive Assistant to the Mayor Sharon Hirota explained this resolution is to accept a grant from
Hawaii Community Foundation to help with the cost of implementing and setting up a Financial
Empowerment Center (FEC) on Hawaii Island. In November of 2018 the County applied and was
accepted into the pilot program and given a $20,000 grant to help the County with the planning process.
Ms. Hirota stated they are approaching the end of the planning process and will be submitting an
application back to the FEC requesting continued support of the program. Part of the application
requires that matching funds be raised by the County. Hawaii Community Foundation has committed
$100,000, and the Administration will provide an additional $350,000 over the next two years. With
this funding, the FEC will provide additional grant monies in the amount of$150,000. Once the
application is submitted, it goes through the approval process and, as long as the County demonstrates
its commitment to raise the required monies, Hawaii Community Foundation will match the $150,000.
Ms. Hirota stated they have met with community partners and decided to utilize a network approach
which will increase the capacity of two partners who are already on island delivering such services. The
first is Hawaiian Community Assets, with offices in Hilo and Kona; and the second is Hawaii First
Federal Credit Union, with offices in Waimea and Hilo. Both organizations have committed to setting
up pilot programs in other parts of the island to deliver services. The other partner is Hawaii
Community College Advance who is working to build the financial curriculum and will be the trainer
for the island. Ms. Hirota stated that free financial counseling and workshop service will be provided to
all community members regardless of their income level. The goal is to provide everyone on Hawaii
Island access to these services.
FC Report No. 55
FC-55 Page 2 October 1, 2019
Your Committee on Finance is in accord with the purpose and intent of Resolution No. 323-19, and
recommends its adoption.
dmm
AYES NOES ABS EX Respectfully submitted,
CHUNG X
DAVID X COMMITTEE ON FINANCE
EOFF X
KANEALI`I-KLEINFELDER X
KIERKIEwICZ X
LEE LOY X `
POINDEXTER X MAILS MEDEIROS DA , CHAIR
RICHARDS X FC REPORT NO.: 55
VILLEGAS X ADOPTED: 0CT 1 6 2019