Laserfiche WebLink
..oJMtYOsp��,' <br /> COUNTY OF HAWAII I• �''�-���% .M- STATE OF HAWAII <br /> TE OF N►'- <br /> RESOLUTION NO. 691 ZO <br /> A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A MULTI-YEAR <br /> LEASE AGREEMENT WITH PAPA'ALOA HOUSING INC. FOR THE <br /> REHABILITATION OF THE PAPA'ALOA ELDERLY HOUSING PROJECT <br /> LOCATED IN THE DISTRICT OF HAMAKUA, HAWAII, TMK: (3) 3-5-003:049. <br /> WHEREAS, on April 3, 2002, the County of Hawaii ("Lessor"), through its Office of <br /> Housing and Community Development ("OHCD"), entered into a lease for at least 20-years <br /> (``Original Lease") with Papa'aloa Elderly Housing ("Lessee"), a Hawaii non-profit corporation, <br /> to build and operate the Papa'aloa Elderly Housing Project which sits on 2.5 acres of land <br /> located in Papa'aloa, Hamakua district, TMK:(3) 3-5-003:049 (the "Property"). <br /> WHEREAS, after entering into the Lease, the Lessee relocated old teacher cottages to <br /> the site and renovated them into ten (10) rental units for elderly residents who met the criteria <br /> described in the Lease, and a community center. The site became known as the the Papa'aloa <br /> Elderly Housing Project ("Project); and <br /> WHEREAS,the Lessee has successfully operated the facility for the past nineteen (19) <br /> years, and now desires to replace the existing aging structures with a new 20 unit building and a <br /> community center, and the Lessor agrees this is a worthwhile expansion given the shortage of <br /> affordable housing on the island of Hawai`i; and <br /> WHEREAS, in 2018 the Lessee was approved to receive twenty (20) U.S. Department of <br /> Housing and Urban Development ("HUD") Section 8 project rental vouchers for the project; and <br /> WHEREAS, the Lessee is seeking funding for the rehabilitation of the premises through <br /> Low Income Housing Tax Credit allocation and other soft funding sources; and <br />