1 Resolution

No. A Jag-1%

Ti-iE GOVERNORS BF TC)
INTERVENE BETWEEN NA KOREA, THE
HAWAII FMR LENDING COALITION, AND 
BANK OF AMERICA TO REACH A SETTLEMENT
AGREEMENT HEATING TO  $130 MILLION
COMMITMENT FUR NATTVE 
ON  HUME 

WHEREAS, in 1993, N5. K?kua an organization
estabiishcd to assist native Hawaiians with. housing and relafed matters,
farmed the Hawaii Fair wad?ng C?a?tion and be.an rascal-thing
haw banks in Hawaii were tram-Eng native Hawaii-ans; and

WHEREAS, among its; HFLC that. Bank of
America [501%] was conducting lending practices in the
?zzrm of rcdiining, the practice of denying gewiccs to residents of certain
areas ?amed 01.1 the ma?a-i or cLhnic composition 91' those areas, by not.
pmvidi?g mm'tgagcs on Hawaiian 31mm: Lands; and

WHEREAS, in May 1994, as a result cffarts and as a.
candition of acquisiticn of Libe?y Bank, the Federai System
to make $150- mi?ion in mortgages available on
Hawaiian Homc Lands by 1998; and

WHEREAS, by the. 1998 deadlines, 30m provided 0:12}? $3,109,502 
the: $150 million in mortgages ordered by {In Madam; Reggw?
System} and

WHEREAS, in 3998, Ram rccommi?ed in Inc-ct the $150 millivn loan
mmr?rzilmcm is native; i-Iawa?ans and to pay a $4.5 million lam fer: based
0n the Opportmtiiy cast of its failure to {2.11.3511 its requircd commi?ncnt; and

WHEREAS, the Sofa executive responsiblt far this 
was Catherine P. Bcssant, that: in charge 0f Cnmmuniiy whu
travcicd !--!awaii with other senior bank cxecutivgess in August 1998 
111ch with Governnr (haymano, Hawaiian kupuna, and other community
l?aciez's from at Miami Palace; and

 

 

Resolution No. 18-178

WHEREAS, in 2012, {he Hawaiian Homes: Commission unanimously
{team-med Lhat the 30% remained unful?iied, and 
supper: far consist?nt and ongoing efforts to held BofA
accountable; and

WHEREAS, on Aprii 18, 2018, ige invited
Catherine P. Bessam in return to Hawaii for a mccting with ?to
reach a fair and final of Ra?-?3 outsta?ding $150 million
to the Hawaiian peopic on their homelands?; and

WHEREAS, Bram uriginaLL-d $13,092,314 in #032193 011 Hawaiian
Home Lands from 19943012, and has made no lnans since,
according to acctuuni informaa'on previded by the United States
Departmesm of Huusing and Urban Development on
August 20, 2018. in response to a Freedom of Information Act rcqucst;
and

WHEREAS, based upon HUD data, lost opportunities for building
em:in and maping the bene?ts of a booming housing market, and payizig
ma?'gagcs rather than skyrocketing mum over last twenty
years for 890 native Hawaiian fan?lics who should have mceivcd 13qu
martgagts by 1998, but did not, and mt?: fami?cs who did receive loans up
{a 13 years after the: deadline, prciiminary estimates for Ram?s-l 1am 
c. approximate? $36336 m?liun; now, therefore,

BE IT RESOLVED by the Cnuncii at? the County 0f Maui:

1.. That it class here by suppgri. Lht: Guvcmor?s c??orts to inter-mm
N51 Pa?e K?kua, the Hawaii Fair Lending Coalition,
and the Bank of America to reach a settlement agreement
rciating a $150 miliion loan commitment for native
Hawaiians an Hawaiian Homc land's, new years
nverd?uc; and

That it urges tharine P. Bessant to return to Hawaii t0 meei
With to reach a fair and ?ned settlement, as mvited
by Governor Igc; and

 

 

Resolution No. 18?473

That in addition to pmvic?ng 1hr: mortgages on Hawaiian
Home Lands as erdered by the Veda-3.1 System, 30m
must Lh-c estimath $369.6 millicm in $32 appurt'unity
costs for native Hawaiians on Hawaiian Home Lands and a
$4.5 3111131011 late fee far ful?ll its required
and

That certified copi?s; :31? this rcsuiutio-n be transmitted to
Brian T. Mcynihan, Chief Executive Bank of America;
Anne M. Finncamt} Vicar: Chairman, Bank. 9f America;
Catherine P. Bessam, Chitf Dmrations anci chhn?olog'
Of?ce-r, Bank 0f Ame?ca; Jemme H. Puma-1%, Chairman, Buard
of ('kwernom, Reserve. System; L361 Brainard, Chair of
the Commi?rme on (3011311136: and Community Affairs, Smart!

of Governors, Federal Rewrvt the Honorable
David Guvcmor, State. of i-iawaiE; the. Baum-able
Brian Schatz, United Status Senator; the Honorable
Maxie K. Him-no, United State-s Senator; the Banal-able
A1331 Arakawa, Mayor, County of Maui; the Homerablc
Mel Ragmza, Chair,  County Counci}; the Honorabie

?v?alcn'c T. Poindexter, Chair, Hawaii County Council; the
{Ignaz?ah]: Em?st Y- Martin, Chair, lionaiulu City Council;
and Kehaul?ani Filimw?atu, Na Pn?c Fair
Ending Coaiitinn.

MPROVED AS TO FORM {?655me

 
Li?ff  a 

EDWARD S. KUSEI. R.

Department

the 'Csrpomhcn Counm}

County 0% Maui
Kama-1 W6

13-2909

 

it is HEREBY that NO. 18-178 was adapted by the
Councii cf the County of Maui, State of Hawaii, on the 2nd day {if November, 2318,

 

OF THE COUNTY OF MAUI

WAILUKU, HAWAH 95793

OF ADOPTION

 

 

 

 

 

 

 

 

by the foliowing vote:
K?iwh m: Bush's-a  s. 3-th amass grim Kc?: T.
mamas man-r mason may cm?: mm Gunman 
w: Vitm 
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ROLL CALL Ayn Excuscd i 

 

 

 

 

 

 

Mm .-

 CLERK

 

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