HI SCR25

Approves the sale of the leased fee interest in a 764 square foot apartment unit (TMK No. 1-9-4-5-34-32) located at 95-033 Kuahelani Avenue, No. 133, Mililani, Hawaii by the Hawaii Housing Finance and Development Corporation.

Property was appraised at $49,300 fair market value by Harlin Young & Co., Ltd., with valuation date of April 11, 2019.

Sale purpose is to convey the leased fee interest to the current leasehold owner of the residential unit in the Nahoa Apartments condominium.

Title to the land was held in private ownership as of August 15, 1895, and was acquired by the Corporation's predecessor agency through warranty deed from Mililani Town, Inc. dated October 7, 1974.

Corporation submitted draft resolution to Office of Hawaiian Affairs on September 27, 2019, and conducted a public informational briefing on August 22, 2019, at Mililani High School with no objections received.