Kukui Gardens to be sold 2500 Tenants to be evicted!

[1stwahine]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

And back on Kukui Gardens (In the StarBulletin this morning)
http://starbulletin.com/2006/06/08/news/story10.html

"Two nonprofit organizations say they were not given a fair shot at buying the Kukui Gardens affordable-housing project before it was sold to Carmel Partners Inc., a for-profit California-based real estate firm.

The federal Department of Housing and Urban Development will examine whether nonprofits were given a fair opportunity to buy the 857-unit complex in Chinatown when it reviews the sale. If the agency determines they were not, it can nix the sale."

...the Saga continues.

Auntie Lynn

[TuNnL]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

Yes, Lynn. What irks me the most about this situation is that the there’s a minister of God on the Board of Directors of Kukui Gardens. The fact that he would put his personal financial interests above those of the poor and elderly who need this affordable housing to stay affordable, is particularly troubling. I have spoken personally with the parties who are advocating for these renters. They’re intentions seem genuine. The owners and managers of Kukui Gardens have been conspicuously absent in this matter (except when flying to Washington D.C. to woo lawmakers).

[1stwahine]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

Yes, Lynn. What irks me the most about this situation is that the there’s a minister of God on the Board of Directors of Kukui Gardens. The fact that he would put his personal financial interests above those of the poor and elderly who need this affordable housing to stay affordable, is particularly troubling. I have spoken personally with the parties who are advocating for these renters. They’re intentions seem genuine. The owners and managers of Kukui Gardens have been conspicuously absent in this matter (except when flying to Washington D.C. to woo lawmakers).

The Lord Jesus Christ warned His followers, "Beware of the false prophets, who come to you in sheep's clothing, but inwardly are ravenous wolves (Matt. 7:15).

There are many who claim to be men of God. Unfortunately, they are not. They decieve those who "trust" them. According to Webster's Dictionary "deceive" means "to lead astray or to cause to accept as true or valid what is false or invalid."

Those that advocate for the renters do so from their hearts. I applaud them.

As they say...the saga continues.

Auntie Lynn

[speedtek]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

So how come the city doesnt take out another loan and build a affordable condo in one corner. or upgrade the whole area?

The city condemed my family's land on Bethel st 30+ years ago. (It is a parking lot now) now they can legally sell it. They paid us some ridiculous price of $7 a square foot.

[1stwahine]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

So how come the city doesnt take out another loan and build a affordable condo in one corner. or upgrade the whole area?

The city condemed my family's land on Bethel st 30+ years ago. (It is a parking lot now) now they can legally sell it. They paid us some ridiculous price of $7 a square foot.

The City condemed a whole City Block Aala Triangle and promised it's residents and business owners a new community. They lied. It was never built. In it's place, a park was made. Today, Aala PARK replaced what used to be a thriving community filled with homes, theaters, resturants, shops, etc. etc. etc.

How do I know? My parents owned a grocery store. We lived above it. The Aala Communty I remember was a bustling community but the city condemed it just the same.

There was a Documentary made called "The Rise and
Fall of A Community - Aala Park" The last time I viewed it was over twenty years ago at HCC. I would love to view again...if it's still in exsistence. I'm in it!

Auntie Lynn

[TuNnL]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

So how come the city doesnt take out another loan and build a affordable condo in one corner. or upgrade the whole area?

The city condemed my family's land on Bethel st 30+ years ago. (It is a parking lot now) now they can legally sell it. They paid us some ridiculous price of $7 a square foot.

I feel for you. That’s why my philosophy is to ban leasehold property, and repeal laws that allow condemnation for eminent domain purposes. Fee simple or rent. Kick the goverment out of the process. Any politician who will push for this will get my vote.

To answer your first question: Land is not affordable. Loans = more taxes to repay the loans. More taxes = more people who won’t vote for you in the next election. Any questions?

[TuNnL]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

Never say never. It ’aint a done deal ’til the fat lady sings. (And other rhetorical phrases.)

Ouster of two Kukui directors sought

A dissident member of the Kukui Gardens Corp.'s board of directors is seeking the removal of two of the company's directors, throwing a legal obstacle before the $130 million sale of the affordable rental project.

[TuNnL]

Kukui Sale to Carmel Properties Illegal?

Okay Ryan, I promise this is the last one I post until someone else shows interest, but I think you’ll agree, this is a significant development that changes the entire debate.

State legal opinion could hamper Kukui Gardens sale

Gov. Linda Lingle said today it would be illegal for the U.S. Department of Housing and Urban Development to approve the prepayment of a federally backed loan to the owners of the Kukui Gardens affordable rental complex.

Whoah!!! Only in an Election Year, huh?

[Miulang]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

Something else is happening with this pending sale. A housing consultant will be meeting with the Kukui Plaza tenants to describe a financing plan that might allow Kukui Plaza residents to buy the building for $80 million.

Seems kind of peculiar that both Lingle's statements and the arrival of this nonprofit housing consultant should be announced on the same day. And there's still the issue of whether or not Kukui Gardens Corp, which currently owns Kukui Plaza, would even consider an alternate bid.

Chanu Lee of Devine & Gong, a consulting firm that has preserved and developed more than 10,000 affordable-housing units throughout the country, said she has a commitment of $80 million from a mortgage lender for the purchase of Kukui Gardens.

"We have proposed a win-win situation where a nonprofit would come and be able to purchase the property for $80 million," Lee said yesterday at a news conference held at Kukui Gardens. She identified the lender as Capmark, formerly known as GMAC Commercial Mortgage Corp.

Lee also said her firm has a commitment for $20 million from Enterprise Community Investments, Inc., a tax credit investor based in San Francisco.

"Combined, we would be able to purchase the property and also do rehab of $20 million to fix up the property and keep the place affordable for current residents in perpetuity," she said.

Miulang

[achow]

Re: Kukui Gardens to be sold 2500 Tenants to be evicted!

I have to say this from experience! I don' t think that Kukui Gardens will be sold because there are too many elderly people living there. I should know because I used to live in Kukui Gardens! Actually, Kukui Gardens is still my home because I grew up in an apartment in Kukui Garden!

[TuNnL]

Kukui Gardens Agreement Reached

Finally, closure to this issue! Amen.

Posted on: Wednesday, January 24, 2007
Kukui Gardens agreement reached

By Rick Daysog
Advertiser Staff Writer

The Kukui Gardens apartments will remain affordable under a compromise that will require upward of $55 million in state funding.

[1stwahine]

Re: Kukui Gardens Agreement Reached

Finally, closure to this issue! Amen.

Not Yet!!


http://starbulletin.com/2007/01/25/news/story04.html

State leaders leery about subsidizing Kukui Gardens

Without state help, units would stay affordable until 2011

By Robert Shikina

"Asking the state to pitch in $55 million to help Kukui Gardens remain affordable is raising serious concerns among state leaders.

As part of an agreement reached between Kukui Gardens residents and San Francisco-based Carmel Partners, the state would have to come up with the money to subsidize the purchase.

House Speaker Calvin Say has only heard about the agreement and, along with Rep. Karl Rhoads, introduced a bill to keep negotiations alive.

As part of the agreement, if the state does not fund the $55 million, then Carmel will keep the complex affordable until 2011.

Astolfi said all residents earn less than 120 percent of the median income.

"If you make it affordable forever for people making 140 percent of median income, you're really talking about displacement," he said."

It's not OVER! $55 MILLION is a lot of $$$. Already State Leaders are griping. Nope. It's not over. It's continuing....

Auntie Lynn

[joshuatree]

Re: Kukui Gardens Agreement Reached

Not Yet!!

I wonder if $55 mil is enough to rebuild MWH from scratch with condos so it can eradicate the security problem at MWH, have enough capacity to house all current occupants of MWH, and have enough capacity to house all of Kukui Garden residents? Two birds with one stone.

[1stwahine]

Re: Kukui Gardens Agreement Reached

I wonder if $55 mil is enough to rebuild MWH from scratch with condos so it can eradicate the security problem at MWH, have enough capacity to house all current occupants of MWH, and have enough capacity to house all of Kukui Garden residents? Two birds with one stone.

heheheh

I like your thinking but it won't happen.

Dey only think one way.

Auntie Lynn

[joshuatree]

Re: Kukui Gardens Agreement Reached

heheheh

I like your thinking but it won't happen.

Dey only think one way.

Auntie Lynn

You think they only think one way or they just not bright enough to come up with ideas like that? Maybe we should pass that along and then see what they think.

Forgot to ask, is MWH owned by the state at the moment?