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COUNTY OF HAWAi`I, ~ ~~ATE OF HAWAII <br /> s~~: ,a~= <br /> RESOLUTION NO. 305 00 <br /> <br /> A RESOLUTION AUTHORIZING THE MAYOR TO NEGOTIATE AND EXECUTE AN <br /> <br /> AGREEMENT WITH PARKER RANCH FOUNDATION TRUST, TO SATISFY <br /> CONDITION 1 OF LUC DOCKET NO. A86-601 AND CONDITION (E) OF <br /> ORDINANCE N0. 96-117. <br /> WHEREAS, Parker Ranch Foundation Trust (Parker Ranch) owns <br /> approximately 338.5 acres of land at O'uli, Lanikepu, Lalamilo, <br /> Waikoloa and Pu'ukapu, Waimea, South Kohala, Hawaii, covered by <br /> tax map keys (3) 6-2-01:9, (3) 6-7-01: portion of 25; <br /> (3) 6-7-02:9, 48 and portion of 17; and (3) 6-8-01: portion of 1 <br /> and 8, (Property); and <br /> WHEREAS, on April 20, 1987, the State Land Use Commission <br /> ("LUC") in Docket No. A86-601 approved reclassification of the <br /> Property from the Agricultural to the Urban District, subject to <br /> Condition 1, which provides that "Petitioner shall provide <br /> housing opportunities for low- and moderate-income Hawaii <br /> residents ...a number of residential units not less than ten <br /> percent (10~) of the total number of residential units, or lots <br /> and units, to be developed on the Property..."; and <br /> WHEREAS, on September 26, 1996, Change of Zone Ordinance <br /> No. 96-117 became effective and amended Ordinance No. 92-65 and <br /> the conditions of approval for the rezoning of the Property to <br /> reflect current development plans; and <br /> <br />