COM 0447.000 2014-2016 - Laserfiche WebLink

Home

Mr. Duane Kanuha, Director May 29, 2015 Page 7 While the Applicant cannot speak for the actions or lack of action on the part of the previous owner,it is quite likely—as with many other projects that got the"green light"in the mid to latter part of the 2000's—that it got delayed because of the sluggish global,national, and local economic conditions. These conditions have affected real estate activity in general,especially on the Island of Hawai`i and over the past ten(10)years. This affected the ability of many projects to secure the appropriate construction fmancing. Although there are increasing signs of a rebound,these signs were certainly absent a few years ago, It is very likely that the former owner was thus reticent in bullishly pushing ahead at that time. Notwithstanding the global economic malaise, it would appear that the former owner continued to take reasonable steps necessary for the development of the proposed subdivision. The record on file with the Planning Department does suggest that the former owner remained active up to the Applicant's acquisition of the Site. As noted earlier,the former owner submitted revised and new subdivision plans in 2011,prior to the May 19, 2013 expiration date. Further, it also had construction plans prepared and approved on May 31,2012 for the required on-site infrastructure associated with the proposed 24-lot subdivision just prior to the Applicant's acquisition of the property. Since its acquisition, the Applicant has devoted its principal focus to renovating and rehabilitating the Nani Mau Gardens facility. That facility has made a turnaround. At the same time, the Applicant continued to look for ways to improve upon the proposed subdivision in a manner that enhances rather than detracts from the operation of Nani Mau Gardens. While there may be a few more tweaks needed,the Applicant believes that it now has a layout that will be compatible with its vision for Nani Mau Gardens. Although the island is still not quite out of this global recession,the Applicant has been able to secure the required financing for completion of the project and wishes to proceed with the project as soon as the required extension is granted. While a 5-year extension is being sought,the Applicant believes that it can complete the project well before that deadline. 13. Granting of the time extension would not be contrary to the General Plan or Zoning Code.