Bill Text: HI HCR31 | 2010 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Approving the Sale of the Fee Interest in 2949 Ala Ilima Street #201, Honolulu, Hawaii

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-04-28 - (S) Received notice of Final Adoption from House (Hse. Com. No. 633). [HCR31 Detail]

Download: Hawaii-2010-HCR31-Amended.html

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HOUSE OF REPRESENTATIVES	H.C.R. NO.	31
TWENTY-FIFTH LEGISLATURE, 2010		S.D. 1
STATE OF HAWAII

HOUSE CONCURRENT

RESOLUTION

 

 

APPROVING THE SALE OF THE FEE INTEREST IN 2949 ALA ILIMA STREET #201, HONOLULU, 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 the fee interest in 2949 Ala Ilima Street #201, Honolulu, Hawaii, TMK No. 1-1-1-61-2-0001, the square footage of which is 821 square feet, with a 4.166 per cent undivided interest in the common elements of the condominium project, to its current leasehold owner, Mr. Brian Yamasaki (the "lessee"); and

 

     WHEREAS, the subject unit at 2949 Ala Ilima Street is part of the Puana Malu condominiums, which was acquired in 1975 under a state housing program, and the units were sold in leasehold to owner-occupants who were given the opportunity to purchase the leased fee interest; and

 

     WHEREAS, the fee interest in this property was appraised on October 1, 2009, by Harlin Young & Co. to have a fair market value of $53,600, and there are no further development plans for this property; 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 a negotiation between the Corporation and the lessee, the parties agreed upon a sales price of $53,600; and

 

     WHEREAS, the purpose of the sale of this property is to promote residential homeownership, and, more specifically, to allow its current leasehold owner, Mr. Yamasaki, to obtain fee simple title to his home, at the agreed upon sales price of $53,600; 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 November 10, 2009, at the Aliamanu Middle School Dining Room, Honolulu, Hawaii; and

 

     WHEREAS, the Corporation did not receive any objection to the proposed sale of the fee interest in this property at the 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 sale of the fee interest in the subject property to the lessee 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 Sale of the Fee Interest in 2949 Ala Ilima Street #201, Honolulu, Hawaii