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<br /> '~C^C~~C~~~ /~?C~~C~~ 100 Kahelu Avenue <br /> i Mil7ani, Hawaii 96789-399i <br /> P.O. Box 898900 <br /> ~~tt A7ililani, Hawaii 96789-R9U0 <br /> .lucracro 0 O'ahu: (808) 548~48ll ~ Fax (808) 648-2980 <br /> [ana'i: (808) 56530(N) ~ Fax (SOS) 565331? <br /> ~ezr~ ._cY. [,~fii.a~~~.~ August 17, 2007 <br /> President <br /> Via Fax: (808) 961-8912 and a-mail: counciltestimony@co.hawaii.hi.us <br /> The Honorable Pete Hoffman <br /> Council Chair & Presiding Officer <br /> Hawaii County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Aloha Chair Hoffman and Councilmembers: '-o <br /> Subject: Reconsideration of BiU 112 -Relating to Affordable Housing <br /> Hawaii County Council Meeting, Wednesday, August 22, 2007 <br /> Castle & Cooke fully supports efforts to increase affordable housing for local families. <br /> However, we are opposed to Bill 112 and previously provided our position and reasoning in our <br /> July 10, 2007 testimony in opposition to Bill 112 (attached). Bill 112 may be well intended, but it <br /> will have unintended, negative impacts, including decreasing the supply of housing. We therefore <br /> support Mayor Kim's veto, and respect his desire to increase affordable housing, as well as his <br /> carefully considered reasoning and appreciation of the complexity of increasing affordable housing <br /> in an effective and fair manner. We are willing to participate in further discussions to find real and <br /> pragmatic solutions to promote and accelerate affordable housing through effective incentives, <br /> programs and/or legislation that fairly address the legitimate concerns of all stakeholders. <br /> Castle & Cooke is providing homes for a wide range of incomes and families in this <br /> community. This has been our objective at our Wehilani project in Waikoloa Village. As an <br /> example, we have voluntary provided 49 affordable homes at Wehilani, in addition to addressing <br /> the needs of the market with a broad range of homes. Our homes do not target the high end resort <br /> and/or speculative buyers. Bill 112, if applied to us, would stop development of further phases as <br /> we would have to re-assess our planning, design, financial viability and risk tolerance to determine <br /> if we can proceed. This would further delay and worsen the supply of homes for Hawaii families <br /> in a region already challenged by limited housing stock, increasing labor and material costs as well <br /> as the lowest HUD median income of all counties, in addition to changing market conditions. <br /> These variables affect all of us in the industry and are similar issues facing the County's workforce <br /> housing program in Waikoloa. <br /> Comm: No. I ~ <br /> Ref. Toe <br /> Ref. Date 2 ~ <br /> Castle & Cooke Hawaii consists of the Hawaii subsidiaries of Castle & Cooke, Inc. which include <br /> Castle & Cooke Homes Hawai i, Ine., Castle & Cooke Properties, Inc., Castle & Cooke Resoats, LLC, and other subsidiaries <br /> <br />