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L Y N C H <br /> r,~ <br /> July 6, 2006 i> ~ <br /> CC c <br /> C , i- <br /> r'; <br /> Council Chairman Stacy Higa - rn <br /> Hawaii County Council <br /> County of Hawaii `r.,- -c~ <br /> 75 Aupuni St. i. ~ <br /> Hilo, HI 96720 ,v <br /> RE: Contribution of Land for portion of New Mauka/Makai Roadway F-' <br /> Within TMK (3) 7-2-6:009 <br /> Dear Chairman Higa: <br /> Thank you for your letter dated June 30, 2006 regarding the mauka/makai roadway <br /> through our property and your additional request for the estimated land value of the subject road <br /> right of way ("ROW"). The ROW is approximately 8,000 feet long and covers an estimated 23.5 <br /> acres of land, including the 88-foot wide roadway section plus required slope areas. We <br /> estimate the value to be $705,000 or approximately $30,000 per acre. <br /> We understand that any changes in land uses for our future development cannot be <br /> guarantied by the County and may require State Land Use Boundary amendments and County <br /> rezoning in accordance with State laws and County ordinances. We fully intend to comply with <br /> such requirements should we seek any changes for future development. We further understand <br /> from your letter that the County cannot make any present commitment to us relating to future <br /> credits, and we appreciate that our dedication of the ROW land will be noted in the public record <br /> for due consideration. <br /> We are happy to be part of this regional plan for a roadway network for the benefit the <br /> County and its residents. <br /> Aloha, <br /> Wai 'O Makalei, LLC <br /> I <br /> 793 <br /> ' , f~8 <br /> `~.~~~!~r - fy-_ Comm. No <br /> --Ref. To•*t <br /> Peter Lynch, Manager R~• Uote <br /> Lynch Investments, LLC I Lynch Real Estate Services, Inc. Lynch Asset Services, Inc. i lynch Development Services, Inc. <br /> <br /> 505 Sansome Street, Suite 1450, San Francisco, CA 94111 Phone: 415.364.3601 Fax: 415.362.9343 www.lynchinvesfinents.com <br /> <br />