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Home My WebLink AboutCOM 0968.000 2018-2020 Harry Kim ....! Deanna S. Sako Mayor • Director • .� �.�der, f � Steven A. Hunt . _ Deputy Director County of Hawaii Finance Department 25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720 (808)961-8234 • Fax(808)961-8569 r a t i1 'CD May 28, 2020 Co Aaron Chung, Council Chair and t ~' r�. Members of the Hawai`i County Council Hawaii County Council • 25 Aupuni Street Hilo, Hawai`i 96720 Re: Resolution for multi-year amended and restated lease agreement Enclosed is a resolution authorizing the County to enter into a multi-year amended and restated lease for 75 years with Big Island Bond Partners, LP for the rehabilitation and leasehold rights of Waikoloa Gardens Apartments. Jack Hall Kona Memorial Housing Corporation(the original lessee) desires to amendthe original lease and assign all of its interest to Big Island Bond Partners, LP to complete the rehabilitation of the premises, which will continue to serve as a rental housing facility for low and moderate income families. The Office of Housing and Community Development requests that this resolution be waived from Finance Committee and be placed on the June 17, 2020 Council agenda in order to expedite this transaction. If you have any questions,please do not hesitate to contact Christine Nguyen of the Office of Housing and Community Development at 961- • 8379. Deanna S. Sako Director of Finance Enc. c: OHCD R65, tgv-i'Do '7 qu% Comm. No. Ref.To:ChUltt I (,YV I ic) Hawaii County is an Equal Opportunity Employer and ProviderRef Dote MAY 2 9 2020 Form B-52 7/18/91 DEPARTMENT OF FINANCE /REQUEST FOR COUNCIL ACTION Office of Housing & Community DEPARTMENT: Development . .4�. . DATE 5/12/2020 is STAFF CONTACT: Anne Bailey PHONE: 323 4303 �a A. REQUEST: The Office of Housing and Community Development(OHCD) requests that the County enter into a multi-year amended and restated lease for 75 years with Big Island Bond, LP,forthe rehabilitation and leasehold rights 4 to Waikoloa Garden Apartments located in Waikoloa, District of South Kabala. Hawaii covered by TMK: (3)6- 8-003-030 as required per Chapter 2, Article 19, Section2-120(a)(2), Hawall County.Code, The OHCD respectfully requests that the above-referenced matter be waived from Committee to the full Council for action at the next Council meeting. B. BACKGRUND AND JUSTIFICATION USE ADDITIONAL SHEETS AS NEEDED l In 1983, the OHCD begaftnegotiating with 1 laikoloa Beach Resorts.((WBR)to dedicate land in order to fulfill the housing condition for the WBR's first hotel, Concurrently, OHCD was negotiating with the Jack Hall Kona Memorial Housing Corporation (JHKMHC), a non-profit affordable housing developer, to develop a 24-unit rental housing project using Farmers Homes Administrations(FmHA) 515 funds on the landto be donated by WBR. An agreement was reached between both WBR and JHKMHC for a 2,29 acre,parcel located at TMK: ( )6-8- 003-030 ("Marcel')that met the FrnHA,515 requirements. € This agreement paved the way for the parcel to be donated to the Countyto satisfy /BR's first hotel's housing obligation. On October 16, 1983, the County leased the parcel to JHKMHC'for 85`years to develop the 24 unit low and. moderate income rental housing project located off"'Pu'u Melia Street inWaikoloa .( 1 1 Shortly thereafter, FIKMHC was awarded $1,311/1,of'FmHA 516 funds to develop the rdral rental housing 1 project, By 1984, all 3 buildings with.a total.of 24 units were completed and rented, � _- ******CONTINUED ON ATTACHED SHEET i1 SIGNED: DATE: Department Head o 4y r-41- 2 GL3c a N Q '> G wto 4? 9 :C �3 C) C, ;(1) +-'' ,- - ' sr: t �, " e.� 0 -t3 1-. 23 } , Cl = » ^ tfac 0c ter_ J -0 ..c „,, C b...- 03 _c CS3 0 = 0 0 cp C a) c 0 y = 03 - ta) ,0 co :C7) #�: y am, v7 �- a) .4= .-. a...: a) al C me . . al 2 C� to0N S.I40 a ` a s. tZ) s_ w- .0Y _ 2 C0z' v" a_( i Q) CD C CO p 0 ' u C..c w- Ca) a?� g ," c 01 JO0 - C aS C9 CSf C ia # dL :: ay a — 9 a6.) `0 en * ' a) - 4,: �_ '9 4- cas t c 'c' cC C ,— 7) a) z < 0> is ::t -- E., 03 0 C' tto to Q t< a) as C 0 0 "- a) ' X 0 i. - as Cl-, c0 l r'" .- tea) C3 ' � C {S Q R03o u a CE _ vcv "0 ecu E m 0ayr) G a to r > m .- C ) - ra aca - a . (13 -- , a) 0 k- -- 40 k— aa) U 2 EF0 0 t 0. c 03 aIci a a a a ® a L3 C L13 04 • Jit'' flgjL e AARON S.Y.CHUNG MAILE MEDEIROS DAVID %�°' 9%''�, KAREN EOFF Chairperson • a ��,+►�' MATT KANEALI`I-KLEINFELDER P , sky '�: . r *; ASHLEY L.KIERKIEWICZ • HERBERT M."TIM"RICHARDS,III == SUSAN L.K.LEE LOY •, - Vice Chair sr4rFa PSA.._: VALERIE T.POINDEXTER REBECCA VILLEGAS HAWAII COUNTY COUNCIL County of Hawai`i Hawai`i County Building 25 Aupuni Street Hilo,Howl?96720 May 29, 2020 Aaron S.Y. Chung, Council Chair Hawai`i County Council 25 Aupuni Street Hilo, Hawai`i 96720 RE: Resolution No. 664-20 : A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A MULTI-YEAR LEASE AGREEMENT WITH BIG ISLAND BOND PARTNERS, LP,FOR THE REHABILITATION OF WAIKOLOA GARDENS APARTMENTS LOCATED IN THE DISTRICT OF SOUTH KOHALA, HAWAII COVERED BY TMK: (3) 6-8-003:030. Pursuant to Section 2(g) of Rule 4 of the Rules of Procedure of the Council of the County of Hawai`i,this written request is submitted with my approval that the above-referenced matter be waived from the Committee on Finance to the full Council for immediate action. In reviewing this matter, timely approval is crucial. It is therefore advantageous that approval is granted and the matter be placed onto the next Council agenda for review. However, in the event this request is denied, for whatever reason, I understand the matter shall be referred to the Committee on Finance for placement on its future agenda. Sincerely, �— Maile David, Chairperson Committee on Finance Approved late/Waive to Council: Disapproved/Date/Refer to FC: Aaron S.Y. Chung, Council Chair Aaron S.Y. Chung, Council Chair Hawai`i County Council MAY 2 9 2020 Hawaii County Council MD/lm Hawai`i County is an Equal Opportunity Provider and Employer