HI HCR16

Approves the sale of the leased fee interest in a 764 square foot apartment unit (TMK No. 1-9-4-5-34-131) located at 94-946 Meheula Parkway, No. 264, Mililani, Hawaii, by the Hawaii Housing Finance and Development Corporation.

The property was appraised at $41,100 fair market value by Harlin Young & Co., Ltd., with appraisal date of July 20, 2015.

The primary purpose of the sale is to convey the leased fee interest to the current leasehold owner; the property is private land (Royal Patent No. 5732, Land Commission Award No. 8241 to Ioane Ii) as of August 15, 1895.

Public informational briefing was held on August 13, 2015, at Mililani High School cafeteria with notice published August 7 and 10, 2015; no objections were received.

Draft concurrent resolution was submitted to the Office of Hawaiian Affairs on September 24, 2015, more than three months prior to the 2016 Regular Session as required by statute.