COM 0018.000 2020-2022 - Laserfiche WebLink

Home

Aaron S.Y. Chung, Council Chair and Members of the County Council County of Hawai `i Page 3 Construction of the proposed affordable housing project is anticipated to begin in the first quarter of 2021 and is estimated to cost approximately $40 million and take two (2) years to complete. Finally, components of the proposed project's funding requires that the units remain affordable for a minimum of thirty (30) years, however, the applicant is proposing to maintain the affordability restrictions for sixty-five (65) years. In order to reduce costs and to facilitate the sale of the property and subsequent development of the proposed 100% affordable housing project within tight budget constraints and stringent funding requirements, the applicant is requesting the following amendments to Change of Zone Ordinance No. 10 32: ■ A five (5) year time extension to Condition E (Time to Complete Construction) ; ■ A one (1) year time extension to Condition G (Time to Dedicate Road Widening Strip); ■ Deletion of Condition J (Requirement to Install Streetlights and Traffic Control Devices); ■ Deletion of Condition P (Fair Share Requirements); and ■ Deletion of Condition R (Impact Fees). Please note that the applicant initially requested deletion of the requirement for additional parking spaces articulated in Condition E. However, they submitted a request to withdraw that amendment request via letter dated October 22, 2020. As previously stated, the Planning Director is supportive of the time extension requests as they meet the following criteria for granting a time extension: The non-performance on timed conditions is the result of conditions that could not have been foreseen or are beyond the control of the applicants, successors or assigns, and that are not the result of their fault or negligence. Upon successfully obtaining a change of zone in 2010, Mr. Boschetti began working on compliance with conditions of approval towards the development of a 100 -unit, market -rate rental housing development on the subject parcels. This included obtaining water commitments for the project (Condition B), securing Final Subdivision Approval to consolidate the subject parcels, subdividing out a ten (10) -foot wide future road widening setback for dedication to the County (Conditions D and G), and granting of drainage easements to the County (Condition F). Despite these efforts, the landowner was unable to finish construction by May 2015, so he requested and was granted a five (5) -year administrative time extension to May 10, 2020 to complete construction and dedicate the future road widening strip to the County. However, citing uncertainty in financial markets and fluctuations in demand