STAND. COM. REP. NO. 2856

Honolulu, Hawaii

RE:    S.C.R. No. 12

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Water, Land, and Agriculture, to which was referred S.C.R. No. 12 entitled:

"SENATE CONCURRENT RESOLUTION APPROVING THE SALE OF THE LEASED FEE INTEREST IN 95-029 KUAHELANI AVENUE, NO. 128, MILILANI, HAWAII,"

begs leave to report as follows:

     The purpose and intent of this measure is to approve the sale of the leased fee interest in 95-029 Kuahelani Avenue, No. 128, Mililani, Hawaii, pursuant to section 171-64.7, Hawaii Revised Statutes.

     Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism and Hawaii Housing Finance and Development Corporation.  Your Committee received testimony in opposition to this measure from one individual.  Your Committee received comments on this measure from the Office of Hawaiian Affairs.

     Your Committee finds that the Hawaii Housing Finance and Development Corporation (Corporation) is seeking legislative approval to sell the leased fee interest in 95-029 Kuahelani Avenue, No. 128 to its current leasehold owner.  The property at 95-029 Kuahelani Avenue, No. 128 is an apartment unit built in 1975 as part of the Nahoa Apartments condominium.  The fair market value of the leased fee interest in 95-029 Kuahelani Avenue, No. 128 was determined to be $47,000 as of April 16, 2015, by Zane, Zane & Associates, Real Estate Appraisal and Consultation Services, Ltd.  The Corporation has met all statutory prerequisites to request approval of the sale of this parcel.

     As affirmed by the record of votes of the members of your Committee on Water, Land, and Agriculture that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 12 and recommends that it be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Water, Land, and Agriculture,

________________________________

MIKE GABBARD, Chair