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Q M .:41, <br /> 0 <br /> Page two 0 <br /> March 17, 1999 <br /> (C) The water program re North Kohala to be redistributed in South' <br /> Kohala. This p eject appears to be headed in the same direction as <br /> the Mahukona development, i.e., ten years plus and no real progress. <br /> It is most likely that now they do not have the funds based on the <br /> economic situation in Japan and what they have been through for ten <br /> years with the pressure brought on them by the Rothsteins of the <br /> Island. When he comes to one of your Meetings, he will ask for ten <br /> minutes and take an hour on many unrelated subjects. Just cask the <br /> prior Council. <br /> Regarding the water situation, 25 to 30 years ago we were attempting <br /> to run water from North Kohala to the Resorts. There was never any <br /> concern in those days from Kohala but, then again, Kohala didn't <br /> have 1500 or so retirees and /or trust fund babies here that have <br /> nothing better to do than file protests, etc. In the past there was <br /> never a concern about water in Kohala, in that everyone knew it was <br /> here in great abundance. In those days it was $25mm to run the water <br /> down to the Resorts. As I understand it, it is now $75mm to $80mm. <br /> The County then wanted a bond, but being they had been hu L. on a bond <br /> in the southern part of the Island, they would not accept <br /> Rockefeller's signature, Boise Cascade's signature and Signal Oil's <br /> signature. I think somebody at the Mayor's level and /or Council <br /> level didn't accept their signatures, but instead wanted a Letter of <br /> Credit. They walked away. Perhaps in retrospect, that was the <br /> beginning of what is happening on this Island. <br /> In spite of all the rhetoric and criticism by parties such as Rothstein, <br /> who has attempted to stop any progress in this County, many of these <br /> developers were successful in completing their projects, but as I trust <br /> you are more than aware, none are making money today and are faced with <br /> negative cash flow in almost all cases, with the possible exception of the <br /> Hilton Waikoloa. Yet Resorts are supplying 4000 to 4500 jobs on this <br /> Island. <br /> Regarding this correspondence, I must strongly urge you to pass the zoning <br /> bill /law. If there is not one by September, which is the Anti's goal, <br /> than you in fact will never see anytiiiiy developed on this Island of <br /> consequence for years to come. <br /> Very truly yours, <br /> C_ <br /> i7,EORGE E. ISAACS <br /> GEI /cdV <br /> cc: All Council Members <br />