WAILUKU — Maui County Council members moved Tuesday to back up their intention to buy the Harbor Village commercial property in Lahaina with borrowed money.

The council’s Budget and Finance Committee recommended setting aside $4 million in bond funds to acquire the nearly 19,000 square feet of land at 576 Front St., across the street from Kamehameha III Elementary School.

Committee members approved amending the county’s 2002-03 budget, which went into effect on Monday, as well as authorizing bond money to be used for the transaction.

Councilors also intend to acquire a lease from property owner JDI Ltd. for use of a neighboring 38,500-square-foot property owned by the Richardson family of Oahu. That land, together with a 15,000-square-foot parcel owned by the Catholic Church and already leased by the county, would be used to expand the county’s parking lot at Prison and Front streets.

Money earned from paid parking at the new lot would go toward paying off the bond.

The council has moved to acquire the Harbor Village property to preserve as open space adjacent to Moku‘ula, a historic home of Hawaiian royalty in West Maui.

The budget amendments will go before the full council for first reading on July 19.

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