COM 0595.001 2020-2022 - Laserfiche WebLink

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BOUSLOG: Yeah. Chair Vitousek, if, I don't know if you've got half the anxiety as I do, but on page seven of our application it summarizes that as of May. As it said there were 6,365 units entitled. Developed as of that time about 3,400,which leaves 2,950 so, still entitled. And as Sid also mentioned, though with this Kumu Hou plan the buildout of Waikoloa Resort will fall substantially below that number even after adding--. VITOUSEK: It is split in between visitor units and residential units? BOUSLOG: Yes, yes. The number—there's a table there I do--want me to read you the numbers from the table? VITOUSEK: I'd love that. Yeah, sorry there's just a lot. BOUSLOG: Yeah, there's a lot of data in there. So, if you need to look at it later just for ease of seeing in a table format, on page seven of the application. Visitor units,there were 3,000 entitled. As of May 2021, 1,604 developed so, 1,396 remaining. Understand that's a moving target, because some hotel units are being converted to timeshare units and so on. With respect to residential units, there are there are 3,365 entitled. There were 1,810 built, leaving 1,565 remaining entitled. That's a total of 6,365 entitled, 3,414 developed, and 2,951 remaining entitled. VITOUSEK: Okay, and then the timeshares, do they fall under visitor accommodations or residential? Do they count, which do they account for? BOUSLOG: It is kind of a complicated thing that because back when these elements are granted back, you know, started in the 70s and the 90s, they talked about hotel units. I think a product like timeshare wasn't quite envisioned. So, former Planning Director Christopher Yuen issued an opinion on this some time ago, which is what we're relying on. So, if a timeshare unit is developed on resort lands it is considered a visitor unit. If a timeshare unit is developed on residential zoned lands, which means it's going to be developed and will look more like a multi- family residential project such as you see at the Kings Land existing. Those count as a residential unit. If, if a project requires rezoning in order to accommodate then it's counted as a resort unit, or visitor unit. VITOUSEK: As a visitor unit. BOUSLOG: Yes. Not a simple answer. VITOUSEK: No, it's reasonable. So, in this case because we're going to project district, these would be counting towards the visitor units? Is that correct? FUKE: That is correct. 32 EXHIBIT D