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Mr. Sidney Fuke Page 2 • Four 4-story structures, plus subterranean parking area; structures not to exceed 45 feet in height. Two of the structures are interconnected by exterior walkways (breezeways). • 93 residential units, of which 33 will be accessible from Alii Drive, and the remaining 60 units will be accessible from Kuakini Highway. • Two-bedroom units (majority of the proposed units). • Two commercial areas with a combined area not more than 10,000 square feet fronting Alii Drive and Kuakini Highway. Of this, 25% will be oriented towards Alii Drive and 75% from Kuakini Highway. • Lobby/office area • Exercise room • 152 subterranean parking stalls, including 6 handicapped and 3 compact stalls, plus two loading zones. 117 are required for the 93 residential units and 35 stalls are required for the commercial areas. The setback of the main structure from Alii Drive and Kuakini Highway will be in excess of the minimum requirement of 20 feet. The Kuakini Highway frontage will have a setback ranging between 24 to 55 feet. The setbacks from the side yards will have a minimum distance of 14 feet. Extensive landscaping will be incorporated within the project. The cost of the improvements is estimated to exceed $15,000,000.00 The anticipated construction completion date is mid-2006. Ordinance No. 91 71 (REZ No. 628) effective July 24, 1991 (which amended Ordinance No. 89 effective April 26, 1989), for a change of zone from Multiple-Family Residential 1,000 square feet (RM-1) to Resort-Hotel 1,000 square feet (V-1). The applicant has filed a request for a time extension to Condition B (file SMA Use Permit application within one year of the date of amendment to the ordinance) of Ordinance No. 91 71. The proposed project will not create significant adverse impacts upon nearby and immediately adjacent properties as the properties have been developed with apartments, condominiums, hotels, commercial and other urban uses. Along the Alii Drive frontage, there are resort and resort-related uses and activities surrounding the project site, zoned Resort 7,500 square feet (V-.75). The Royal Kona Coast Resort Hotel is located makai of the property. The Kona Billfisher and Kona Mansion condominiums are located to the north and south, respectively, and zoned Multiple-Family Residential 1,000 square feet (RM-1). There are numerous restaurants, commercial office and retail uses within 500 feet of the project site.