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COUNTY OF HAWAII STATE OF HAWAII A oe x~ 453 I; RESOLUTION NO. RESOLUTION ACCEPTING THS DEDICATION OF THS PARCEL DESCRIBED AS TMK: 7-3-009:055 TO SATISFY THS AFFORDABLE HOUSING REQUIREMENTS PURSUANT TO CHAPTER 11 OF TH8 HOUSING CODS AND APPROVING TH8 AGREEMENT BXECUTSD ON JULY 14, 2006, BY AND BETWEEN TSA CORPORATION AND TH8 COUNTY OF HAWAII TO COMPLY WITH HAWAII COUNTY CODS, CHAPTBR 11, HOUSING WHEREAS, Change of Zone Ordinance No. 02-114, effective on September 11, 2002, rezoned the property from Open (O) to Industrial-Commercial Mixed District (MCX-la); and WHEREAS, Change of Zone Ordinance No. 02-114 included condition B which stipulates that the applicant shall comply with all requirements and conditions of the State Land Use Commission's Findings of Fact, Conclusions of Law and Decision and Order issued on February 14, 2002, relating to Land Use Commission Docket No. A00-732; and WHEREAS, Section it-4 (d) of the Housing Code provides the affordable housing requirements for industrial uses and stipulates that industrial uses that must fulfill the affordable housing requirements are any uses allowed as of right in a ML or MG district, except for home improvement centers, and any uses that are also allowed as of right in a CG district; and WHEREAS, Section 11-4 (d) of the Housing Code further states that individual industrial enterprises generating more than 100 employees on a full-time equivalent basis must earn one affordable housing credit for every four full-time equivalent jobs created; and WHEREAS, the Kaloko Industrial Subdivision, Phases III and IV, will be developing 75 one-acre lots for sale for light industrial and commercial uses and is unlikely to include individual industrial enterprises having more than 100 employees; and WHEREAS, TSA Corporation (TEA) has partnered with the County and elected to dedicate an 8-acre parcel ("Parcel") at Tax Map Key 7-3-009:055 (formerly 7-3-051: portion 060) to comply with the Housing Code; and WHEREAS, dedication of the Parcel will satisfy the affordable housing requirements imposed pursuant to the Housing Code as it relates to (a) TEA, the developer of the Kaloko Industrial Subdivision, Phases III and IV and (b) subsequent purchasers of the lots in the Kaloko Industrial Subdivision, Phases III and IV; and WHEREAS, TSA has executed an agreement with the County on July 14, 2006 to, (1) convey the Parcel to the County for public use; (2) construct a temporary access roadway; and (3) construct a water service lateral to the Parcel.