HomeMy WebLinkAbout04-15-2009-Doc15855 (2)
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MINUTE S
BUDGET & FINANCE CONIIVIITTEE
April 15, 2009
A meeting of the Budget & Finance Committee of the Council of the County
of Kaua`i, State of Hawai`i, was called to order by Councilmember
Daryl W. Kaneshiro, Chair, at the Historic County Building, Room 201, Lihu`e,
Kaua`i, on Wednesday, April 15, 2009, at 9:40 a.m., after which the following
members answered the call of the roll:
Honorable Bill "Kaipo" Asing
Honorable Tim Bynum
Honorable Jay Furfaro
Honorable Daryl W. Kaneshiro
Honorable Lani T. Kawahara
Honorable Derek S. K. Kawakami
EXCUSED: Honorable Dickie Chang
Minutes of the April 1, 2009 Budget & Finance Committee Meeting.
Upon motion duly made by Councilmember Kawakami, seconded by
Councilmember Asing, and unanimously carried, the Minutes of the
April 1, 2009 Budget & Finance Committee Meeting was approved.
The Committee proceeded on its agenda item as follows:
Bill No. 2305 AN ORDINANCE AMENDING ORDINANCE NO. B-2008-673
AS AMENDED, RELATING TO THE CAPITAL BUDGET OF
THE COUNTY OF KAUA`I, STATE OF HAWAI`I, FOR THE
FISCAL YEAR, JULY l, 2008 THROUGH JUNE 30, 2009, BY
REVISING THE SURPLUS AND APPROPRIATIONS
ESTIMATED IN THE PUBLIC ACCESS FUND (Appropriation
of $1.85 million from the Public Access Fund to Black Pot Beach
Park Expansion-Land Acquisition)
[This item was deferred.]
DARYL W. KANESHIRO, Budget & Finance Committee Chair: Thank you.
Do we have anyone in the chambers that wanted to speak on this item this
morning? Anyone here? Mr. Mickens.
There being no objections, the rules were suspended.
GLENN MICKENS: Thank you, Daryl. For the record Glenn Mickens.
I...I just want to...once again, I said it before, but I just want to compliment these
people, the Open Space people, for the hard work they do to be able to go out and
find land that can be held in perpetuity for this island. I know it's a lot of work. I
also made this statement and I'll reiterate what I said. I do hope that we have in
place to be able to maintain these properties and don't let them go down the drain.
I didn't hear yesterday at the public works budget hearing, I didn't hear that they
were asking for any more labor to be able to look after these facilities. But again, I
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do hope we...we can do that because I think these people are doing a tremendous
service for us, not just the oceans, the lands down there, but the mauka side too. So
I want to...appreciate that. Thank you.
Mr. Kaneshiro: Thank you, Glenn. Any questions for Glenn
Mickens. If not, do we have anyone else who wanted to speak on this item? Please
come up.
JENNIFER LUCK, Kaua`i Public Land Trust: Good morning,
Councilmember. Jennifer Luck, Kaua`i Public Land Trust.
Mr. Kaneshiro: Good morning.
Ms. Luck: Good morning. I just did want to clarify one thing
before you begin. I know at the public hearing we heard testimony from
Mr. Michael Sheehan, and so if I could I wanted to take a few minutes to just run
through the history of the Land Trust dealings with him and...and why our priority
for expanding the Black Pot Park changed from acquiring his land first to the
Hodge parcel.
Mr. Kaneshiro: Okay. .
Mr. Furfaro: May I say something, Mr. Chairman, before we get
into that dialogue?
Mr. Kaneshiro: All right, Mr. Furfaro.
Mr. Furfaro: It's very important as I think Mr. Mickens came up
and gave the appropriate lauding to the Land Trust, but also this is an effort on the
county's part as well especially dealing with people that are on the Public Land
Trust. I would also like to say that I hoped that the county would be in a position,
after testimony from Mr. Sheehan, that we would be pursuing a friendly I
condemnation if we do pursue purchasing his property. So I'want to just caution us ~
all that we don't give a history that might inflame any possibilities of all of us ,
coming out with a satisfactory negotiation. So if I can just share that and caution '
you as well, Jennifer, so.
Ms. Luck: Okay. We...we did originally try to secure funding
to purchase Mr. Sheehan's lot. At the time the Land Trust and Mr. Sheehan were
unable to agree on a purchase price for the property. So when Mr. Hodge
enerously came forward and was willing to do a bargain sale on his property
~700,000 less than the appraised value, we did make a str'ategic decision at that
point to try to acquire his property instead and in addition the urgency surrounding
his property because there...he had already obtained building permits on the
property and was willing to give us a couple of months to raise funds, but obviously
he would commence building on the property if we didn't raise the moneys within,
you know, about six months or so. So that was somewhat Awhat went behind our
decision to go towards the Hodge parcel first.
Mr. Kaneshiro: Mr. Furfaro, you have a question?
Mr. Furfaro: And again, Jennifer, I just needed to say that
because it is not necessarily the Land Trust that is negotiating with Mr. Sheehan
only. The possibility does exist that it might be our county attorney's office that
eventually looks at a direct acquisition there. We, you know, we are all subject to
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the county coming up with a presentation of a master plan. The other difference
here...does the Land Trust have in its possession a document that references the
acknow acknowledged values of those lands and actually signed by Mr. Sheehan?
Does the Land Trust have that in your possession?
Ms. Luck: No, we have a...no, that purchase agreement was
not signed with Mr. Sheehan. Correct, sir.
` Mr. Furfaro: That answers my question. Thank you.
Mr. Kaneshiro: Any other questions? Lani, you have a question?
Ms. Kawahara: I just wanted to verify.
Mr. Kaneshiro: Go ahead.
Ms. Kawahara: Thank you. Thanks for coming up and helping us
clarify or expand our information on the recent statements by Mr. Sheehan. So I
just wanted confirm is the market value is usually what you look at and
Mr. Hodge's or Hodge was able to go $700,000 below market value?
Ms. Luck: Correct.
Ms. Kawahara: Okay, so...so a lot of what you do is hopefully
' market value or less...
Ms. Luck: Correct.
Ms. Kawahara: ...is how you determine it, right?
Ms. Luck: Right. When the Land Trust is helping to facilitate
a transaction and of course the county is the end owner in this case, but we do try
and at least begin the negotiations with bhe landowner and help secure funding,
working closely with the county who's been a tremendous partner throughout this
whole process. So we did meet with Mr. Hodge, we had the property appraised. It
was appraised at $4,000,000 and then he did sign a letter of intent stating his
intent to sell for $3.3 which is $700,000 less. `
Ms. Kawahara: I see. Another question. I do have the Legacy
Land Conservation Commission Project rankings here for fiscal year 2009. I've got
rankings for...let's see...there's O`ahu, O`ahu, Kohala, one, two and , three and
number four for the Legacy Land Conservation Commission would be Kaua`i Public
Land Trust, Black Pot Beach Area, Hanalei, Kaua`i TMK: (4) 5-5-001:011 and that's
0.74 acres and that is the $750,000 that you guys have requested.
Ms. Luck: Correct.
Ms. Kawahara: And that is at a ranking of number four...
Ms. Luck: Correct. Ms. Kawahara: ...on...on Legacy Land Conservation Commission
project rankings for 2009 and I just wanted that to be in the record. And I think
that's about all I have right now. Thanks.
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Mr. Furfaro: I...actually, I think that was in the record, but I
might follow up and...and since our presentation on that and we do appreciate all
the negotiation you do on our part, is that money now, as it was number four on the
ranking at the time, it...it's now confirmed and committed to you?
Ms. Luck: It is, correct. The...
Mr. Furfaro: Is there a subsequent letter we should be having
that implies that?
Ms. Luck: I...I can certainly obtain one. The Board of Land
and Natural Resources did vote on the rankings and approved the rankings as they
were recommended by the Commission.
Mr. Furfaro: Right. We understand the approval and at the
time we looked at the presentation, but I guess I'm seeking something that actually
says you are in control of that money, so.
Ms. Luck: Right. We can certainly obtain a letter...
Mr. Furfaro: I would appreciate that.
Ms. Luck: ...confirming that. I'
Mr. Furfaro: Thank you so much.
Ms. Luck: No problem.
Mr. Kaneshiro: Mr. Bynum, you had a question, go ahead.
Mr. Bynum: Good morning.
Ms. Luck: Good morning. ,
Mr. Bynum: I just...you know, I know that there...these...I...I
want to get a sense of the timing and I mean our process may take a few more
weeks and that's not going to be a problem or...
Ms. Luck: No. Mr. Hodge and I speak regularly. I've kept
him very informed of where the process is at so he knows exactly what's going on
and is happy with its progress and certainly is secure with the~ timeline that we've
set up for him.
Ms. Kawahara: I have one. ;
Mr. Kaneshiro: Lani, you have a question? Go ahead.
Ms. Kawahara: Oh no, it's not a question, I a statement. No
question, a statement for later. ~
Mr. Kaneshiro: Statement? All right, we'll save that for when I call
the meeting back to order. Anyone else has any questions? If~not, thank you very
much... ;
Ms. Luck: Thank you.
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Mr. Kaneshiro: ...for the testimony. Anyone else here who wanted
to testify? Mr. Sheehan.
MICHAEL SHEEHAN: Thank you, Councilmembers. Michael Sheehan's
my name. I'm...I'm just a little confused myself over this whole process because
right up until the approval by the Legacy Lands, the parcels that they were looking
at and the parcels they actually approved were parcels 49 and 50. And then
somehow at the end when it was all said and done, there was a switch around and it
went to this other one. So, there's confusion, I believe, among the members of the
Legacy Lands as well because throughout the entire process they thought that they
were putting up money for parcels 49 and 50. So, I think I submitted for the record
that documentation. So, either way is fine, but my...my thoughts are that for the
same money you get twice the acreage if you go the other way, so. I mean it's over
and up to you people; certainly you guys decide. Either way is good and as I said
last week we will still continue to provide the extra 150 parking stalls and the
public's use of our restrooms and everything else to augment the existing county
facilities there at Black Pot, so. Anyway, just so...if I'm confused, probably you guys
ought to be wondering too because...
Mr. Furfaro: Oh that was the reason for the question,
Mr. Sheehan, I would like to see the actual document that earmarks the tax key
number and so forth that the funds were intended for.
Mr. Sheehan: Yeah, I think I faxed it through.
Mr. Kaneshiro: You have it there.
Mr. Furfaro: Yes, I have it.
Mr. Sheehan: Yeah, okay, that...that's all.
Ms. Kawahara: I do have a question.
Mr. Sheehan: Okay.
Mr. Kaneshiro: You have a question? Go ahead,
Councilmember Kawahara.
Ms. Kawahara: Thank you for your information and it's really nice
to be able to...to see another willing landowner trying to designate some land for
the county. The question I have was the thing that you did send us was just a list of
applicants from the Legacy Lands. So, as a list of applicants, was it actually an
agTeement saying that...that they were going to be purchasing your land?
Mr. Sheehan: Well that list you have there was a list of all the
applicants and the members of the commission scored it in their order of priorities
and the top four...top four got funded. And as you'll see, number four was parcels
49 and 50. Now then apparently sometime it switched over to the other one. So I
don't know how that occurred, but...
Ms. Kawahara: Oh, because, yeah, my official project rankings does
say number four was Black Pot Beach, the Hodge property, which is what I have
here.
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Mr. Sheehan: Oh, well okay, well I got another one that I sent
through that said 49 and 50.
Mr. Furfaro: A...again, I...I think that is one of the reasons I've
asked the land trust to actually get to us from the Legacy Lands the final intent
that identifies the funds that they have been granted and they so diligently worked
on and what it actually earmarked those funds for.
Mr. Sheehan: Yeah.
Mr. Furfaro: That was the request.
Mr. Sheehan: And...and I've been assured by the...Louie Abrams
called me yesterday and he's on the Legacy Land Trust and he said that whatever
order of priority gets funded first, they still intend to acquire my parcels 49 and 50
and perhaps 33 and then with that get the former Princeville piece of property
which, you know, in whichever order, I support it, but over to you gentlemen and
ladies and anyway.
Mr. Furfaro: I want...I want to thank you for all of your support
in this effort and also your willingness to offer facilities for parking and public use
is...is very well received by me and I think...
Mr. Sheehan: Happy...happy to do it because we just don't have
enough facilities down there. The population has burgeoned and we're just way
behind, so we're all working together collectively and thank you. Thanks very
much.
Mr. Furfaro: Thank you.
Ms. Kawahara: I...I still had another question.
Mr. Sheehan: Oh, yes, ma'am. '
Ms. Kawahara: And I did. I wanted to recognize you also for
allowing all...when you presented something to us earlier, you showed us a picture
of all the people that you allow to park on your easement and...and I think the
, county really and truly does appreciate that, and thank you for doing it.
Mr. Sheehan: Yes and on top of that my family provides about an
acre and three-quarters at a dollar a year lease rent to the Hanalei Hawaiian Civic
Club for their canoe club and we did donate the funds initially to build a structure,
for the equipment and material, and then they used sweat labor to build that thing.
So, it's...there's a lot of things that'are going on down there that, you know, the
community's working collectively together and I think over time we'll...we'll finally
make everybody happy, hopefully so.
Ms. Kawahara: That's great and hopefully we will be able to work
with you and it'd be really (inaudible) to be able to...to do the market value or less
just like Mr. Hodge's, Mr. Hodge did.
Mr. Sheehan: Thank you very much.
Ms. Kawahara: Okay, thanks.
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Mr. Kaneshiro: Anyone else wanted to...in the chamber wanted to
speak on this particular item before us? If not, I'm going to call this meeting back to .
order and let my committee members know that I'm deferring this Bill No. 2305.
There being no one else wishing to speak, the meeting was called back to order, and
proceeded as follows:
Mr. Kaneshiro: The administration is doing an independent
appraisal on the property. I know Mr. Hodge did one, but the administration
wanted to also do an independent appraisal for our side. So, with that and I...I
believe until we get that appraisal, we'll...which I'm certain will be shortly, that I'll
be deferring this particular item on my agenda. So with that, Mr. Furfaro.
Mr. Furfaro: Yes, Chairman, thank you for that briefing. I think
doing the appropriate appraisal on the county's part for our share of the money...
Mr. Kaneshiro: That's right.
Mr. Furfaro: ...is good due diligence and I also want to on
Thursday when we do the budget finance portion, I...I will be asking the
administration to look at some other sources of money because the major portion of
this today is coming from the Public Access area which is an island-wide tax
contribution and I do understand through the efforts of our parks people that they
are looking for a Hawai`i Tourism grant to help with what is earmarked for some
money for Ha'ena and Hanalei and maybe that will loosen up some additional
money that can be used towards this purchase and we'll find that out on Thursday.
Mr. Kaneshiro: Thank you for that.
Ms. Kawahara: Chair, chair?
Mr. Kaneshiro: Councilmember Kawa...Kawahara, go ahead.
Ms. Kawahara: My question is I...I...that's news to me that the
administration is doing their own evaluation?
Mr. Kaneshiro: Independent appraisal.
Ms. Kawahara: Independent appraisal.
Mr. Kaneshiro: Correct, not an evaluation, an appraisal.
Ms. Kawahara: Independent appraisal.
Mr. Kaneshiro: On the property.
Ms. Kawahara: Okay and in what way would that mean that we
can't decide on this today?
Mr. Kaneshiro: Well, I think because...
Ms. Kawahara: Because I don't think there was...
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Mr. Kaneshiro: ...I heard from one committee member right now
that they do have concern of spending the full $1.8 million for one particular project.
And if you had listened carefully to what Mr. Furfaro said, he's going to ask finance
tomorrow, I believe we have finance here before us at our budget hearing, about
some other funds rather than spending all of this on one particular project, so.
Mr. Furfaro: And I...
Mr. Kaneshiro: I just heard that right now. So with that, you
know, there's no way I'm going to, as the chair of this committee, make a decision to
vote on this right now. So...
Ms. Kawahara: Okay, I just needed clari... ;
Mr. Kaneshiro: The best way would be to defer. We could probably
vote on it right now, but I can tell you right now with his concern, with my concern,
whoever's concern, this probably won't pass. So...
Ms. Kawahara: Okay, I just wanted clarification. I just wanted
clarification to see if with this new development, new letter that...that we are...
Mr. Furfaro: Let me, let me, let me clari...
Mr. Kaneshiro: Let me, let me clarify that. I don't think it's
because of a new letter. Number one, he had some concerns about spending
$1.85 million on one project because we only have $2.2 million in that whole pot
(inaudible) and,..and I know some other council members did express the same
concern to me. So we have that as one part as this came before committee. Then
we have the other part where the administration is currently moving ahead to do an
independent appraisal. So, it has nothing to do with this letter that we received
right now. I see it as two different, you know, two different conditions that my
committee members are asking for also, if I'm not mistaken, for some deferral.
Mr. Furfaro: I...I would like to clarify.
Mr. Kaneshiro: Okay, go ahead.
Mr. Furfaro: First of all, I have no...nothing but great pleasure
in supporting the expansion of Black Pot.
Mr. Kaneshiro: Absolutely, we all do.
Mr. Furfaro: Second, it is...
Mr. Kaneshiro: We all do.
Mr. Furfaro: ...appropriately in the business world to make sure
that we do our due diligence. Number one, I want to see from the Land Trust the
letter that clarifies the grant for this particular piece. Secondly, after our
discussion in finance yesterday with parks & recreation, there may be an
opportunity to look at funds in other fund accounts and certainly, you know,
number three, I think, and very important is I also heard from the Land Trust as
asked by Mr. Bynum that the next two weeks isn't going to hurt us. It...this is just
good business practice that we crossed all the T's, we dotted all the I's. I hope I
made myself clear.
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Mr. Kaneshiro: You did.
Ms. Kawahara: You made yourself absolutely clear and I...I agree.
Actually it's appropriate in not only the business world but many other worlds to
dot your I's and cross your T's. So, my question is that I just am curious if anybody
can tell me...I am for...for the most part yes, I am absolutely positive that Black Pot
is something that we want to do and the...the information from Mr. Sheehan does
give us different property sites that would add greatly to that site and to the
property. I just am just curious about when this started moving and when the...I
would guess I have a question for the administration as to when...because I hadn't
heard about them doing an independent appraisal until today actually. So I just am
a little startled because we were to...to...to vote today on this.
Mr. Kaneshiro: I...I...I think we have some procedural aspects that
we need to go through. First this comes before the council, it's scheduled for public
hearing, now it's in committee.
Ms. Kawahara: Right.
Mr. Kaneshiro: When it's in committee, this is when we do the
work and this is the work that the committee members chose to do.
Ms. Kawahara: I'm not...of course I would love to do that work.
Mr. Kaneshiro: So this is where we're at.
Ms. Kawahara: So we're discussing it now.
Mr. Kaneshiro: So I'm not sure about why this didn't happen before
or why did this not happen before because now we're doing it here in committee.
This is the work, if it takes another committee meeting, but we need to do the work
before we pass it up to the full council. This is where we're doing the work, right
now. We haven't been doing the work previous to this before committee. First we
take...put it on the agenda, take the public hearing, listen to the testimonies
presented, and then we bring it...this is the first meeting I've had in committee,
today. And I believe some of my members want to continue working in this
committee to...till we do our due diligence.
Ms. Kawahara: Yes.
Mr. Kaneshiro: So, I mean it's simple. It's a simple procedure and
we do that with all the bills.
Ms. Kawahara: I...I beg your...
Mr. Kaneshiro: Especially bills that will be taking out
$1.850 million from the Open Space for all of Kaua`i.
Ms. Kawahara: Which it is designated especially for.
Mr. Kaneshiro: Yes, that's right.
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Ms. Kawahara: But Chair, Chair Kaneshiro, I just want to say I
would really appreciate your patience with me as we do go through one of these
committee hearings because there are...have been committee hearings that we've
gone through that...that haven't...that have just gone straight through. So, if your
patience with me is because I don't understand the regular process.
Mr. Kaneshiro: In all my 10 years let me tell I haven't seen
something that came to a first committee meeting for $1.850 million and passed in
that committee that day. I can tell you that right now.
Ms. Kawahara: ,No I'm just talking in general about the protocol.
So, your patience with me and understanding how a committee...
Mr. Kaneshiro: All right.
Ms. Kawahara: ...works and the work that gets done in it at
different times, I would appreciate. .
Mr. Kaneshiro: Okay. And I know your desire. We all have the
same desire, you know.
Ms. Kawahara: Yes, we do.
Mr. Kaneshiro: We all want to see the expansion of Black Pot. We
all want to see it even going as much as we can, but at the same time this is the
committee's job to do its due diligence before we even move ahead and pass it on to
the full council.
Mr. Furfaro: Mr. Chair, Mr. Bynum had a...Mr. Bynum wants to
speak.
Mr. Kaneshiro: Mr. Bynum had a comment? We're...we're in
comment before...session before I defer this bill.
Mr. Bynum: Right, right. Yeah, I just want to make it clear, at
least from my perspective, that...you know, that I'm very much appreciative of the
Public Land Trust and their work to bring us resources to do these things that
are...are for the public good. You know, Black Pot is an incredibly special place we
all care about, everybody in this room, and want the best for it. And...and it has
challenges and it's clear that we've looked at different pieces of land there. My hope
is in the long run that all of that property is acquired eventually for public use. As
Mr. Sheehan's pointed out, we definitely need to kind of do a master plan for the
park and create a situation where we balance that incredibly per...special natural
place with the level of public usage it has right now, and currently our facilities are
inadequate and we're probably not making the best use of that property. You know,
I had the same question that Mr. Sheehan had about we were focused on this and
now the focus has changed, and I asked those questions in advance and met with
people and understood that, you know, the circumstances of how that shift was
made in...in order to take advantage of those opportunities. I also am concerned
and want to have the ongoing dialogue with the administration about potential
other sources of resource in our county funds, not to delay or not proceed with this
Hodge property but to just look at it in a bigger picture about how we move to our
common goals and make sure that we also try to preserve funds in the Open Space
Commission if we can because we have many other wonderful priorities for those
funds in different areas that some of us are working on. And so that was my
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question about you know I said I think it's going to take a few more weeks because I
anticipated that we'd have a deferral to get more information and more dialogue
amongst ourselves and with the administration about how we proceed. But just be
clear, I don't think for any of us it's whether we proceed, it's how we proceed. So I
will be supportive of the deferral and us continuing to do our, you know, that
dialogue about the best way to proceed.
Mr. Kaneshiro: Thank you for that, committee member.
Mr. Furfaro: I move to defer.
Ms. Kawahara: May I have one more comment?
Mr. Kaneshiro: Okay and since there's no second at this point,
Mr. Asing, you wanted to make a...
Mr. Asing: Yes, let me...
Mr. Kaneshiro: ...comment before we call for the deferral.
Mr. Asing: Thank you. You know, I don't have any problem.
As a matter of fact, I support the deferral process and the main reason for the
deferral process is really to get an appraisal. I think I have had the opportunity as
mayor on the other side to have discussions about this issue. Also, as a
councilmember here, I have had numerous meetings with the Land Trust, with
members of the administration regarding the process and the...the bigger issue
which is on the floor today is the appraisal process. What you have currently is you
have the landowner doing an appraisal. So I'm the landowner, I make an appraisal.
You mean the county, you're purchasing this and you're going to take the
landowner's appraisal and say yes, that's a good appraisal? That's not due
diligence. I mean, you need to do your work also and that's one of the biggest
reasons behind the deferral process, the due diligence on the county's part to be
sure that the appraisal hopefully it comes in and it fairly matches. Supposing it
does not match. If you go ahead and approve it today and move forward, it's too late
and so, there's many loose ends that you need to look at first. There is also concern
about, you know, I believe we have just a little over $2 million in that fund and you
go ahead and expend, you know, $1.8 million out of that fund, to leave such a small
amount left may not be in the best interest at this particular time. And we have
other sources of income that we want to look at to supplement that so that we don't
take a big chunk out of that...that fund. So there's some loose ends that I think the
administration is a little concerned about and so, that's the reason, you know, I'm
going to be supporting this move. Thank you.
Mr. Kaneshiro: Mr. Kawakami.
Mr. Kawakami: Yeah, thank you, Mr. Chair. You know, I just want
to bring up a...a different perspective of...like a rookie and I think what...what the
concern was and I'm speaking for myself, but I...I think even members of the public
when they're watching they may perceive a deferral as something negative or the
lack of support of...of...of something. But in this case, I just want to clarify again
that...that it's a time-out and that's...that's one of the challenges I had to overcome.
I immediately tied in deferrals with oh, there's no support for the project, but in this
case it's just to make sure that we're fiscally sound and...and...you know, that it
pencils out, and...and so, I'll support the deferral, no problem. And I also support
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the acquisition of this parcel because I think it's important for the future
generations that we preserve some of that open space for them to enjoy. Thank you,
Mr. Chair.
Mr. Kaneshiro: Thank you for that and I just wanted to add that
this morning we...we did give some certificates where we had two bankers in here,
Clyde Nakaya and also from CPB and Bank of Hawai`i. Anyone that is going to buy
something or if you are going to go buy a home, the owner does not make the
appraisal. You as the buyer will make the appraisal, give it to the bank and the
bank will look at the appraisal and say, okay based on this, this is how we'll finance
you. So, it's a-basic...it's a basic way of doing business. So people out there that
think that, you know, we're deferring this for any other reason, if they had...had to
do a loan for a home mortgage, they would find that they were the responsible
people to do an appraisal and not the seller. So, with that in mind, I'll ask for a
motion to defer.
Upon motion duly made by Councilmember Furfaro, seconded by
Councilmember Asing, and unanimously carried, Bill No. 2305 was deferred.
,
There being no further business, the meeting was adjourned at 10:11 a.m.
Respectfully submitted,
`oNA.,
Wilma Akiona
Secretary
APPROVED at the Committee Meeting held on Apri129, 2009:
DAR,YL . ESHI O
Chair, Budget & Fin ce Committee
12