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J Yoshimoto, Council Chair <br /> and Members of the County Council <br /> Page 2 <br /> On April 7, 1997, the Hawai`i County Council approved Change of Zone <br /> Ordinance No. 97-56, which rezoned approximately 10.283 acres of land from an <br /> Agricultural (A-5a) to a Single Family Residential (RS-10) district. The applicant <br /> submitted a 5-year time extension to comply with Condition D, which was approved by <br /> Change of Zone Ordinance No. 07-160. The applicant has submitted a request for an <br /> additional 5-year time extension to comply with Condition D of Zone Ordinance No. <br /> 07-160 (REZ 854), which states: <br /> "D. Final Subdivision Approval of the proposed residential subdivision within <br /> the subject property shall be secured from the Planning Director within five(5) years <br /> from the effective date of this ordinance." <br /> The applicant also requested a 5-year time extension to comply with Condition J <br /> (fair share requirements), but this condition does not have a time requirement and, as of <br /> this date, the applicant is in compliance with the requirements of Condition J. <br /> The applicant is in the process of subdividing and developing a total of thirty one <br /> (31)residential lots. Increment 1 has been completed, which consists of twenty(20) lots. <br /> The deadline to secure Final Subdivision Approval for Increment II under Change of <br /> Zone Ordinance No. 07-160 was October 19, 2012. The reason for the time extension <br /> request is based on the current serious economic slump. The applicant felt it was <br /> unfeasible and not prudent to move forward with the project at this time considering <br /> current construction costs. <br /> The applicant is in compliance with a number of conditions required under <br /> Change of Zone Ordinance No. 07-160. Increment I has been completed and the <br /> applicant has secured 10 additional units of water to allow the subdivision of <br /> Increment II. Additionally, the applicant has constructed the required Holoholo Street <br /> extension to Nana Street and has dedicated the road to the County in compliance with <br /> Condition F. Lastly,the applicant has agreed to offer for sale three(3) single-family <br /> finished lots affordable to families earning up to 140% of the median family income for <br /> the County of Hawaii to comply with Condition K (affordable housing requirements) of <br /> Change of Zone Ordinance No. 07-160. The three(3) lots have not yet been designated. <br /> The non-performance is the result of conditions that could not have been <br /> foreseen or are beyond the control of the applicants, successors or assigns, and that <br /> are not the result or their fault or negligence. To date, the applicant has expended <br /> considerable funds for the second increment of the project in preparing the roadway and <br /> lot pads. The applicant has obtained the required water commitments from the <br />