HomeMy WebLinkAboutResolution No. 2017-43COUNTY COUNCIL
COUNTY OF KAUA’I
33.L~O1Ut1On No.2017-43
RESOLUTION AUTHORIZING THE KAUA’I COUNTY HOUSING AGENCY
TO APPLY FOR A STATE DWELLING UNIT REVOLVING FUND LOAN
TO DEVELOP AND CONSTRUCT INFRASTRUCTURE IMPROVEMENTS
FOR THE LIMA OLA WORKFORCE HOUSING PROJECT AND
TO ENTER INTO A LOAN AGREEMENT WITH
HAWAI’I HOUSING FINANCE AND DEVELOPMENT CORPORATION
WHEREAS,the Kaua’i County Housing Agency (“Housing Agency”)proposes
the development of the Lima Ola Workforce Housing Project (“Project”)and related
improvements on approximately 75 acres of County-owned land in ‘Ele’ele,Kaua’i,
Hawai’i identified as Tax Map Key No.(4)2-1-00 1:054 (“Project Area”);and
WHEREAS,the proposed project will provide up to five hundred fifty (550)
affordable housing units for Kaua’i residents,providing single-family and
multi-family units that are affordable to households earning from eighty
percent (80%)and below to one hundred forty percent (140%)of the Kaua’i median
household income;and
WHEREAS,the Project is being developed in four phases to provide needed
affordable housing to meet the current and projected future demand for affordable
housing supply;and
WHEREAS,on August 11,2016,the Housing Agency and the Hawai’i Housing
Finance and Development Corporation (“HHFDC”)(collectively,“the Parties”)
entered into a Memorandum of Agreement (“MOA”)to evidence the Parties’desire to
form a cooperative relationship to provide a means by which the Parties may achieve
cost-effective and efficient acquisition of funding to address the immediate and
essential long-term affordable housing needs of the County of Kaua’i;and
WHEREAS,HHFDC,in meeting its obligation of the MOA,requested and
received Dwelling Unit Revolving Funds (DURF)from the Hawai’i State Legislature
to develop and construct infrastructure improvements for the Project;and
WHEREAS,on August 17,2016 and January 12,2017,the Council of the
County of Kaua’i (“Council”)adopted Resolution No.2016-53 and Resolution
No.2017-12,respectively,approving the Project pursuant to Section 201-H-38;and
WHEREAS,on July 24,2017,the Land Use Commission of the State of Hawai’i
approved the reclassification of the Project Area from the State Land Use
Agricultural District to the State Land Use Urban District to allow for the
development of the Project;and
1
WHEREAS,the Housing Agency is positioned to seek funding and financing
mechanisms to commence the development of the Project;now,therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUA’I,STATE
OF HAWAI’I:
1.That the Housing Agency is authorized to apply for a DURF loan for the
Project and to work with HHFDC to negotiate the terms of the Loan
Agreement.
2.That the Loan Agreement shall take effect upon approval by the Council.
BE IT FURTHER RESOLVED,that certified copies of this Resolution be
transmitted to the Housing Agency.
V:\RESOLUTIONS\2016-2018 TERM\DURF 2017 AMK:aa
Introduced by:
DEREK S.K.KAWAKAMI
(By Request)
~ap €xcuseb 3cuftb
~ruu x
Q~4jotk X
J~a~a~iia X
~aan~1dro X
I~akuakamt X
3~po3o X
~ukimura X
~otat 5 0 2 0
~ertIttcate ,t ~boption
~c ljcrti~p certifp tijat 3~.~otution ~o.2017—43
~ua~aboptcb lip tlji~Qfounttt of tlj~Qtountp of ~&au&i,~‘tat~of
~a~iiat’i,3Libu’c,~aaua’i,~a~iiai’i,on August 23,2017
~~fintp ~tierk
~Oatcb August 24,2017
Q~jaIrman &~r~,tbinç~Q~fftc~r
2