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presentable to the eye as you come over the Wailoa Bridge into Downtown Hilo. I think that is just something that has always been in the back of mind of the owners. Thank you. AU: Raised hand. Mr. Chair, I have a question. REPLOGLE: I'm sorry, yes Mr. Au. AU: Thank you Mr. Yamanaka's and Mr. Piianaia for coming forward with this application. I'm glad senior Mr. Yamanaka you mentioned that you talked about jobs and revitalizing that property and I know Mr. Yamanaka junior mentioned that at this time there's no plans for future development but, I would strongly encourage, and I would like =see more development on that property. It is an eyesore, it was an eyesore but now that building is beautiful on the front end and I would like to encourage development and really:bfrewMr,Yamanaka Junior and can you just share with me or Mr. Yamanaka Senior. What, our vision=for that property I know at this time you have no current development but, what the overall vision that you want to see and I'm glad you tied it into a gateway for Hilo Downtown. V. YAMANAKA: I think Garth summed it up very^well in the=fact that it's Very difficult for us as owners to put money back into the_property without existing=zoning that conforms to the use. The financing for that type and that typeaf situation is very`expensive. So, to date, we have not really borrowed any money from any fnancial_institution but we basically put in cash and I think during the time of our holding we've gone to the extent of over a million and a half that we've put into the property of ourown cash. That's not normal for business like this but because of this zoning situation it's almost become a necessity_ it's vety difficult There a lot of people who would want to come inand utilize=the propertv_but a gain without the zoning it makes it very difficult for us to moveforward G. YAMANAKA I just warigtoiVdAhTtithe mentioned there have been a lot of people who have approached us anc tis-due to-thelAiniquelardationraiot the river. People want to take advantage of that and=the problem ends up becoming whetherour uses will be approved and then will they be able to get financing to put-money into the property because any improvements that occur will be substantial-being in the Special Management Area(SMA) and having to address any other issues that arise_=through term ofdevelopment. So, the financing portion of that is super important because_not a lot of people have that type of cash just to take that type of risk. But we do get a lot of interests, REPLOGLE: Thank youny Other questions fellow Commissioners? CLARKSON: Raised hand. REPLOGLE: Mr. Clarkson? CLARKSON: Yes, I have a question for the Director Kern. Let me just preface this by saying that back in the late eighties (80's), early nineties (90's) I was involved in a housing project in Keaukaha, in which the location in the tsunami zone required the construction of all houses to be elevated above the tsunami inundation level. I would ask Director Kern how existing regulations 6 EXHIBIT B (DRAFT)