COM 0770.000 2002-2004 - Laserfiche WebLink

Home

Mr. Christopher Yuen November 20, 2003 Page 2 Nature of Request The, applicant Daikyo Pacific, Inc., hereby requests an amendment to Condition B of Ordinance No. 91 71 to allow the submittal of the required SMA application within a year of the effective date of an amendment to this ordinance. It should be noted, however, that the applicant intends to file the required SMA application hopefully within the next month or so to enable the concurrent processing of the time extension request and SMA application. JUSTIFICATION OF REQUESTS In making this extension request, the applicant respectfully requests your taking the following into consideration: 1. The applicant's inability to perform within the stipulated period was a result of conditions that could not have been foreseen or were beyond the control of the applicant and not attributable to the applicant's negligence. As noted in the letter (Exhibit E) from the applicant's attorney, the global economic recession which begun in the early 90's was particularly severe for Japan. As such, the applicant did not wish to proceed with the filing of a SMA application, knowing full well that it would not be in a position to develop any approved project for this site in a timely fashion. Although the real estate market in Hawaii has being on the upswing the past few years, there is still some measure economic anxieties. Much of these are associated with the lingering fears of the "War on Terrorism", the slow pace of global economic recovery, particularly in Japan, and the residual effects of the SARS epidemic. These have all combined to somewhat dampen the applicant's level of aggressiveness in developing this project. As noted in the Exhibit E, the applicant is contemplating the sale of the subject parcel to Mr. Ghalamfarsa. Mr. Ghalamfarsa believes that conditions are changing and greater global security will be achieved in due time. This optimism has thus motivated him to expend funds to retain an archaeologist to do the required survey and mitigation plan. He has also prepared some conceptual designs of the project. Should the sale be consummated, he believes that he will be able to file the SMA application prior to the requested the allotted period.