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<br /> 07-89-'87 13:82 FROM-SLNSTONE REALTY 8t~8-523-9696 T-599 I'002/804 F-645 <br /> ,6a,n <br /> SunStone Kona LLC <br /> Honorable Pete Hoffmann July 9, 2007 <br /> Chair and Presiding Officer <br /> and bQembers of the County Council ; : <br /> COUNTY COUNCIL r= <br /> 333 I:ilauea Avenue, Srcond Floor <br /> Hilo, Hawaii 96720 <br /> SUB.IECT: COMMENTS TO BILL 112, PROPOSED AMENDMENT TO <br /> CHAPTER 11. HAWAII COUNTY CODE. RE AFFORDABLE HOUSING <br /> Dear Chair Hoffmann and Members of the County Council: <br /> I am wriring to ;rou as the managing member of SunStone Kona, LLC ("SunStone"), <br /> owner of approximately 46.3 acres of land in Kahului 2nd, North Kona, Island and State of <br /> Hawaii, located at Tax ]flap Key Nos.: (3) 7-5-019: 011, and approximately 1.089 acres of <br /> roadway improvements located at TMK No.: (3) 7-5-020: 001 (per.) (collectively the <br /> "Property"). SunStone is concerned about the aossible effect of County of Hawaii Bill <br /> Number 112 ("Bill 112"1 on SunStone's develoament of the Proaerty due to the fact that <br /> 11igS:ounty of llswaii recently entered into a stipulated SMA aereement reeardinp the <br /> property which would be violated by the passin¢ of Bill 112 in its current form. SunStone <br /> reser?es the right to altea its position and supplement its arguments upon consultation with legal <br /> counsel. <br /> As Currently drafted, Bill 112 appears inconsistent with Hawaii law on equitable estoppel <br /> and vested rights. In relevant part, Bill l l2 proposes to amend Hawaii County Code, Chapter 11, <br /> to impose affordable housing requirements on: <br /> All final map approvals for a condominium property regime where <br /> residential uses are allowed, including farm dwellings, and the <br /> units are less than five acres in siu; [and] <br /> All plan approvals for buildings which allow residential uses. <br /> Bill 112, Section 11-4(2)(6),(7). <br /> Application of Bill 112 to the Property will have a devastating economic effect on SunStone, <br /> most likely precluding <levelopment of the Property. <br /> The Property wsis rezoned under Ordinance No. 87-47, effective May 11, 1987, subject to <br /> numerous conditions (Coonditions A through N), none of which included an obligation to provide <br /> ] 001 Bishop Street Psuxhi Tower Suite 1240 Honolulu, HI 9ti813 Phooe: (808) 523.9881 Fa~x:/(808) 513-9696 <br /> Comm. No._ <br /> _`~s•3 <br /> Ref. To: ~r~MM ~ tlylc i ! <br /> ;tef. Date JUL_ 10.,2007 <br /> <br />