REP PC 048 2022/03/08 (2020-2022)

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PC-48 Page 2 March 8,2022 community benefits and island-wide investments through the Waikoloa Foundation, which will be partially funded by the sales tax of the timeshare units. Anne Bouslag, Project Director with PBR Hawaii & Associates, Inc., explained the revised masterplan, its impacts, and regulatory compliance components. She noted the proximity to the King's Trail and that the development will take place entirely mauka of the trail to avoid any disruptions to the cultural site. She also noted that the 800-foot setback from Queen Ka`ahumanu Highway will remain open space to preserve the natural geography and scenery of the environment. Ms. Bouslag went over the proposed map with Your Committee and explained that the planning is intended to reduce traffic congestion, maximize open space where possible, and provide better connectivity and public spaces. An updated traffic study will be conducted after Final Plan Approval is granted. She also said that an Archeological Inventory Survey was conducted in 2021 and concluded that no historic properties would be impacted. The freshwater service in the area is provided by Hawaii Water Service Company who has indicated that they are willing and able to supply the development. Irrigation systems are being proposed in Area C which will use brackish water for irrigation purposes. She emphasized that no freshwater will be used for irrigation, and that they are prioritizing drought resistance and native vegetation which will have a net decrease on the amount of water drawn from the `Anaeho`omalu Aquifer. Stanford Carr of Stanford Carr Development explained the workforce housing component. He acknowledged the hardships resort workers face such as long commute times and cost of living. He shared plans to leverage the 201H process to increase housing density beyond the proposed 140 units. The desire to provide housing at 60-120 percent of AMI (Average Median Income), so an individual worker with an annual income of$18,000 will be able to afford a one-bedroom unit at $450 a month and a family of four making $61,360 a year can afford a unit at $1,200 a month, utilities included. Cary Boedekker, Founder and President of the Waikoloa Foundation, explained that the Waikoloa Foundation will be funded through a percentage of every timeshare sold (2 percent); this is estimated to be $50 million over the duration of the project. She emphasized that the Waikoloa Foundation will support stewardship and destination management activities as well as local initiatives that advance quality of life for island residents. Committee Member Heather Kimball asked about density and preserving open space. She asked if the density will remain within the 3,000 visitor units and 3,365 residential units allowed by the SMA (Special Management Area)permit and if the remaining open golf holes would be developed for timeshares or other non-open space uses. Mr. Fuke responded via Communication No. 601.3 that Kumu Hou's density actually decreases, that units will remain within the limits of the SMA permit, and that they will commit to keeping the remaining 27 golf holes in the golf course or as open space. Committee Member Sue Lee Loy asked if the Waikoloa Foundation will cap the foundation's revenue at $50 million to which Mr. Plunkett responded that they are hopeful to make more and that the $50 million was estimated from a third party. She then encouraged the applicants to explore adding sustainable elements to the development such as electric vehicle charging stations, solar panels, or LEED (Leadership in Energy Design) components. Committee Member Lee Loy then discussed the lack of emergency response automated external defibrillators (AED) PC Report No.:48