HOUSE OF REPRESENTATIVES	H.C.R. NO.	21
TWENTY-FIFTH LEGISLATURE, 2010		S.D. 1
STATE OF HAWAII

HOUSE CONCURRENT

RESOLUTION

APPROVING THE FEE SIMPLE SALE OF 1593 PAPAU STREET, KAPAA, HAWAII.

WHEREAS, Act 176, Session Laws of Hawaii 2009, requires the prior approval of the Legislature by concurrent resolution to sell certain state land in fee simple; and

WHEREAS, the Hawaii Housing Finance and Development Corporation (the "Corporation") desires to sell in fee simple a single family residence on a six thousand square foot parcel located at 1593 Papau Street, Kapaa, Hawaii, TMK No. 4-4-6-38-74; and

WHEREAS, the Corporation obtained this property through exercise of its rights under its deferred sales price restriction placed on homes developed with the assistance of the chapter 201H, Hawaii Revised Statutes, expedited development process; and

WHEREAS, the Corporation's purpose for selling this property is to promote affordable residential homeownership by reselling this property to a qualified resident as defined in section 201H-32, Hawaii Revised Statutes, and there are no further development plans for this property; and

WHEREAS, this property was appraised on January 6, 2010 by Graham Odenheimer of Pacific Rim Appraisal Group to have a fair market value of $305,000; and

     WHEREAS, the Corporation submitted a copy of this Concurrent Resolution to the Office of Hawaiian Affairs on January 25, 2010; and

WHEREAS, pursuant to the requirements of Act 176, Session Laws of Hawaii 2009, the Corporation did duly conduct a public informational briefing on the sale of this property on October 29, 2009 at the Kapaa Neighborhood Center, 4491 Kou Street, Kapaa, Hawaii; and

WHEREAS, the Corporation did not receive any objection to the proposed sale of this property to a qualified resident as defined in section 201H-32, Hawaii Revised Statutes at the October 29, 2009, public informational briefing; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-fifth Legislature of the State of Hawaii, Regular Session of 2010, the Senate concurring, that the fee simple sale of 1593 Papau Street, Kapaa, Hawaii, TMK No. 4-4-6-38-74, to a qualified resident as defined in section 201H-32, Hawaii Revised Statutes, is approved; and

BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Executive Director of the Hawaii Housing Finance and Development Corporation.

Report Title: 

Approving The Fee Simple Sale Of 1593 Papau Street, Kapaa, Hawaii