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PLUNKETT: And I will confirm that. <br /> VITOUSEK: Thank you. <br /> PLUNKETT: That's true. <br /> VITOUSEK: I think, I think to me that's very important to have that as a codified condition and <br /> not, not just a promise. And then is there a timeframe for the development of that workforce <br /> housing, that we can tie to construction of other areas of the project? <br /> Basically, what,what point do we think we should have that built by? <br /> FUKE: This is, you know,this is something that we believe, like you know, should be flushed <br /> out with the County Office of Housing and Community Development. In our preliminary <br /> discussions with Stanford Can, he mentioned that they're looking at certain type of financing <br /> and that financing kind of relates to the ability to, you know, to deliver at a certain point in time. <br /> Hopefully when we have that agreement buttoned down with Office of Housing, those things <br /> will be clearly outlined and spelled, spelled and outlined, in terms of your target market, <br /> construction deadline, ownership,penalty, the events of non-performance. Those things will all <br /> be ironed out <br /> VITOUSEK: But I mean for our purposes now of adding this condition, what language do you <br /> think would be reasonable to ensure that this workforce housing is completed in a prioritized <br /> way that coincides with the construction of Kumu Hou? <br /> PLUNKETT: Maybe I could interject a little bit. We--our understanding with, with Stanford <br /> Can Development is we'll be conveying in the land, as well as all of the dollars for the <br /> development of the, the infrastructure to the,to the,to the site. And then at that point, he would <br /> take over and actually construct and own the housing development. Our hope is to start working <br /> on that as quickly as possible,upon the completion of this rezoning request. I do think that we <br /> need some latitude on this that we need to work with the County Office of Housing and <br /> Community Development to kind of really nail down the timeframes that this will move forward, <br /> and it would be consistent with his financing needs. I don't know that I've answered your <br /> question satisfactorily, but it's, it's a high priority for us to get underway,just as quickly as <br /> possible. <br /> CARR: Perhaps I can speak to the timing that we're expecting and the process we're looking at. <br /> As Sid said, there's a 201H process, that will be in front of you we anticipate in the in the next <br /> year. We need that 201H permit to get our density and certain exemptions we're going to need. <br /> Prior to getting the financing the lot low-income housing tax credit financing and that comes <br /> through in February every year annually, so we have to we're targeting getting that by February. <br /> And with that, in early 2023 we'd start construction later that year, and we have a two-year time <br /> period to complete the construction and get, get renting so, that's our target but there's steps <br /> along the way, that if you miss one, you may have a one-year delay. <br /> 34 <br /> EXHIBIT D <br />