STAND. COM. REP. NO. 878-06

Honolulu, Hawaii

, 2006

RE: H.B. No. 2994

H.D. 2

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2994, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO LAND ACQUISITION,"

begs leave to report as follows:

The purpose of this bill is to preserve affordable rental housing units by:

(1) Requiring the Hawaii Housing Finance and Development Administration (HHFDA) to initiate negotiations with Kamehameha Schools to acquire the Kulana Nani property in Kaneohe, Oahu;

(2) Requiring that all of the units be retained in perpetuity as affordable units for households at or below the current income restrictions;

(3) Appropriating $6,800,000 for land acquisition of this property; and

(4) Requiring HHFDA to exercise its power of eminent domain if an agreement to acquire the property cannot be reached by June 30, 2007.

EAH testified in support of this bill. The Housing and Community Development Corporation of Hawaii and the Department of Community Services of the City and County of Honolulu supported the intent of this measure.

Your Committee has amended this bill by:

(1) Changing the effective date to July 1, 2020, to encourage further discussion; and

(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2994, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2994, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT TAKAMINE, Chair