The following is a summary of actions taken at the January 7, 2009 meeting of the Hawaii Community Development Authority ("HCDA").

Chairperson

Jonathan W. Y. Lai was elected to serve as the Chairperson for the 2009 fiscal year.

Halekauwila Place     

Halekauwila Place is a project consisting of 64 affordable rental units targeted for families earning between 80% and 100% of area median incomes ("AMI"), 136 rent-to-own units targeted for families earning up to 140% of AMI, 3,500 square feet of retail space, 1,500 square feet of meeting space, manager units, and 259 parking stalls.  The project will be located on a portion of the block bounded by Keawe, Pohukaina, and Halekauwila streets.  The project is being developed by Halekauwila Partners, LLC.

HCDA was approached to provide and the HCDA members authorized the Executive Director to expend from HCDA's revolving funds and issue to Halekauwila Partners, LLC a subordinated loan in the amount of $15,000,000.

K.C. Rainbow Development (1025 Waimanu Street)

Proposed action to authorize the HCDA's Executive Director to negotiate and enter into a purchase agreement with K.C. Rainbow Development Co., LLC for the 1025 Waimanu Street parcel was deferred pending the receipt of more information from the staff.

Mother Waldron Neighborhood Park

At the September 3, 2008 meeting the HCDA members approved a five-year work plan and budget for improvements within the Kaka`ako district.  Improvements to the Mother Waldron Neighborhood Park is one of the projects included in the five-year work plan. 

Mother Waldron Neighborhood Park is the only active park in the Mauka area and the proposed improvements to the park will make the park more attractive and safe for users.  A "Coral Street Promenade" will create a venue for special events.  Park lighting will make the park safer for users.  Decorative paving will also be installed.

HCDA members authorized the Executive Director to expend revolving funds, up to $1,404,000, for the design and construction of the improvements to Mother Waldron Neighborhood Park, subject to staff pursuing an accelerated design and construction timetable.