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+tY OI N ~l.`yn , COUNTY OF HAWAII STATE OF HAWAII RESOLUTION NO. 517 48 RESOLUTION AUTHORIZING APPROVAL OF IN LIEU FAIR SHARE CONTRIBUTION TO SATISFY CONDITION "H" OF ORDINANCE NO. 02 25. BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII: WHEREAS, Parker Land Trust is the landowner of approximately 386.5 acres of land at Ouli, Lanikepu, Lalamilo, Waikoloa and Puukapu, Waimea, South Kohala, Hawaii, covered by Tax Map Key (3) 6-2-1:9; 6-7-l:portion of 25; 6-7-2:9, 48, portion of 17; and 6-8-1:portions of 1 and 8 (hereinafter referred to as the "Property"); and WHEREAS, on Februazy 28, 2002, Ordinance No. 02 25 became effective amending Change of Zone Ordinance No. 96 117, which amended Change of Zone Ordinance No. 92 65 by changing the zoning district classification from Agricultural (A-40a) and (A-3a); Single Family Residential (RS- 7.5), (RS-10), (RS-15) and (RS-20); Double Family Residential (RD-5); Multiple Family Residential (RM-2) and (RM-3); Village Commercial (CV-7.5); and Limited Industrial (ML-20) to Agricultural (A-40a), Residential and Agricultural (RA-la), Single Family Residential (RS-7.5) and (RS-10); Multiple Family Residential (RM-5.0); Village Commercial (CV-7.5); and Limited Industrial (ML-20) for the Property; and WHEREAS, Condition "H" of Change of Zone Ordinance No. 02 25 requires that the landowner comply with the requirements of fair shaze contribution to mitigate potential impacts of the project; and WHEREAS, Condition "H(1)" of Change of Zone Ordinance No. 02 25 requires payment of a fair share contribution to support park and recreational improvements and facilities; and WHEREAS, Parker Land Trust is required to pay a total amount of $326,725.72, including the adjustment for inflation using the Honolulu Consumer Price Index (HCPI), for the fair share contribution towards the park and recreational improvements and facilities for the proposed (82) eighty two residential lots Luala'i at Pazker Ranch Subdivision Phase III; and WHEREAS, Condition "H" of Change of Zone Ordinance No. 02 25 further states that in lieu of paying the fair share contribution, the cost of constructing the improvements and the fair market value of land contributed that is required in Condition "G" and "M(1)" shall be credited against the sum specified in Condition "H(1)" relating to park and recreational improvements; and WHEREAS, Condition "G" of Change of Zone Ordinance No. 02 25 requires Parker Land Trust provide 30+/- acres of land for public park and recreational purposes outside of the geographical area covered by said ordinance, the exact location to be determined and mutually agreed upon by Pazker Land Trust and the Planning Director, in consultation with the Department of Parks and Recreation; and