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23. April 2,2007: Latest Amendment to SMA 25, which granted a six(6)-year time extension to Condition No. 12 (golf course constriction). This is the most current iteration of SMA 25. (Planning Department Exhibit 8—SMA 25 and all amendments thereto) DESCRIPTION OF PROPERTY AND SURROUNDING AREAS 24. Description of Property: The project area is bounded by 800 feet of open space setback from Queen Ka`ahumanu Highway to the east, the King's Trail to the west, Waikoloa Beach Drive to the south and the 'Ainamalu development to the north. The project areas includes three (3) non-contiguous sub-areas that are separated by Waikoloa Beach Drive, existing fairways and other developments totaling approximately 182.9 acres of land. These include: • "Area A"—The northern (inakai) most of the sub-areas of the project consisting of approximately 45.9 acres of land, about half of which is currently vacant and the other half including portions of the King's Course that are not presently in use. Two (2) new SMA Use Permits and one (1) Change of Zone approval are being sought concurrently to allow the future development of 264 multiple-family residential timeshare units within sub-areas identified as "JI and J2" and 25 single-family residential lots and related improvements in sub-area"L2". • "Area B"- Situated south of"Area A" and between two segments of Waikoloa Beach Drive consisting of approximately 133.8 acres. "Area B" is currently comprised of vacant land, golf fairways not presently in use, a sewer pump station,the private Ala Ihi Way roadway, and a golf course clubhouse. A new SMA Use Permit and Change of Zone to a Project District zoning district are being sought concurrently to allow the future development of 900 multiple-family residential timeshare units, community support facilities (including a community center, convenience retail center, maintenance operations center, additional employee and other parking), golf support facilities (including relocation of the golf clubhouse and driving range, and a new cart path), public parks and paths (including two gateway parks and open space features and pedestrian paths) and related improvements and landscaping. • "Area C"- Situated west and north of"Area B" and encompassing approximately 3.1 acres of land, comprised of vacant land and a pond that is accessory to the King's Course, which is not presently in use. A new SMA Use Permit is being sought to -10-