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B 1kaikaOhanaREZAmend. c rk.10.22.2020. <br />COUNTY OF HAWAII PLANNING DEPARTMENT <br />BACKGROUND REPORT <br />IKAIKA OHANA (FORMERLY GIAMPAOLO "PAUL" BOSCHETTI) <br />AMENDMENT TO CHANGE OF ZONE ORDINANCE NO. 10 32 (REZ 09-103) <br />IKAIKA OHANA has submitted an application for a five (5) -year time extension to complete <br />construction and deletion of additional parking requirements in Condition E (Time to Complete <br />Construction), a one (1) -year time extension to Condition G (Time to Dedicate Road Widening <br />Strip), deletion of Condition J (Requirement to Install Streetlights and Traffic Control Devices), <br />deletion of Condition P (Fair Share Requirements), and deletion of Condition R (Impact Fees) of <br />Ordinance No. 10 32, which reclassified 5.05 acres of land from a Single -Family Residential — <br />7,500 square feet (RS -7.5) and Multiple -Family Residential — 1,000 square feet (RM -1) to a <br />Multiple -Family Residential — 1,500 square feet (RM -1.5) zoned district. The subject properties <br />are located south of Kukuau Street, on the west side (mauka) of Kapi`olani Street above the <br />County Police Department Headquarters building, Kukuau 1 st, South Hilo, Hawaii, <br />TMK: 2-4-025:0485 053, and 080. <br />Applicant's Request <br />1. Original Project Status: The current landowner and original applicant, Giampaolo <br />"Paul" Boschetti, sought and was granted a change of zone for the subject properties to <br />facilitate the development of a proposed 100 -unit, market rate, multiple -family rental <br />housing project and related improvements. Despite the landowner's efforts over time to <br />complete the development, he has abandoned the project due to uncertainty in financial <br />markets and fluctuations in demand for market -rate, multiple -family rental units in Hilo. <br />Instead, Mr. Boschetti (seller) has entered into a purchase agreement with the intent to <br />sell the property to A0705 Hilo, L.P. (buyer), which is a single purpose limited <br />partnership and an affiliate of Ikaika Ohana (applicant). Ikaika Ohana is a nonprofit <br />501(c)3 organization with a mission of developing and operating affordable housing, <br />including projects on the mainland, Oahu, Maui, three existing affordable rental projects <br />in Hilo and one under development in Waikoloa. 1 <br />2. Prqposed Project: Upon transfer of property ownership, Ikaika Ohana is proposing to <br />develop Kaiaulu 0 Kapiolani, a 64 -unit, 100% affordable rental housing development <br />