HI HCR34

Approves fee simple sale of Kekuilani Village 4 in Kapolei, Hawaii (35 single-family cluster lots totaling 2.490 acres plus 0.362 acres of shared driveways) to Castle & Cooke Homes Hawaii, Inc.

Property appraised at fair market value of $5,079,000 as of December 22, 2009, and is zoned R-3.5 residential under TMK Nos. 1-9-1-79:01 to 35 and 1-9-1-79:129 to 134.

Development agreement executed March 8, 2007, requires affordable housing development with homes sold to families at or below 140 percent of area median income, with affordability requirements to be recorded as covenants running with the land.

Sale required prior legislative approval under Act 176, Session Laws of Hawaii 2009, because fee simple transfer to developer was not closed before the act's effective date.

Public informational briefing was conducted December 16, 2009, at Villages of Kapolei Community Center with no objections received to the proposed sale.