Title
RESOLUTION 24-70, AUTHORIZING ACQUISITION OF A CONDOMINIUM UNIT AT THE MAUI LANI TERRACES CONDOMINIUM PROJECT, 3740 LOWER HONOAPIʻILANI ROAD, UNIT C-206, LAHAINA, MAUI, HAWAIʻI (BFED-93)
Description
The Committee is in receipt of the following:
1. Resolution 24-70, entitled “AUTHORIZING THE ACQUISITION OF A CONDOMINIUM UNIT IDENTIFIED AS TAX MAP KEY NO. (2) 4-3-006:004:0050 LOCATED IN LAHAINA, MAUI, HAWAII, FOR AN AMOUNT NOT TO EXCEED $460,000.00.” Resolution 24-70’s purpose is to authorize the acquisition of a one-bedroom, one-bathroom unit on the second floor of the Maui Lani Terraces condominium project, consisting of approximately 530 square feet, located at 3740 Lower Honoapiʻilani Road, Unit C-206, Lahaina, Maui, Hawaiʻi, for $460,000, exclusive of closing costs and expenses, for affordable rental housing for kūpuna displaced by the August 2023 Maui wildfires.
2. Correspondence dated April 2, 2024, from the Community Development Block Grant Program Director, transmitting the appraisals and preliminary title reports for two condominium units, including the unit referenced in Resolution 24-70.
Status
The Committee may consider whether to recommend adoption of Resolution 24-70, with or without revisions. The Committee may also consider the filing of Resolution 24-70 and other related action.