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Dru Kanuha, Council Chair <br /> and Members of the County Council <br /> Page 2 <br /> out of this project since that time. The damage done to the housing industry by the <br /> financial market collapse has created unforeseen difficulties completing the project within <br /> the required timeframe. Moreover, the applicant's construction financing is contingent <br /> upon receiving a 5-year time extension to complete construction. These unforeseen <br /> issues have caused delays that have prevented the applicant from finishing the project by <br /> the deadline for compliance with Condition C. <br /> Based on the reasons provided, it is determined that the applicant could not have <br /> foreseen the poor economy and financing difficulties, which were beyond their control, <br /> and was not the result of their fault or negligence. <br /> Approval of this time extension request would not be contrary to the General <br /> Plan, the Zoning Code, or the original reasons for the granting of the Change of <br /> Zone. There have not been any significant changes to the General Plan for this area since <br /> this request was originally approved that would affect this project. The request continues <br /> to be consistent with the General Plan Land Use Pattern Allocation Guide(LUPAG) <br /> Map, which designate this area as Medium Density Urban. These areas allow for village <br /> and neighborhood commercial uses up to three(3) stories and residential and related <br /> functions not to exceed a density of 35 units per acre. <br /> Additionally, the use continues to be consistent with the Housing and Land Use <br /> elements of the General Plan. <br /> The property lies within the Kona Urban Area and the Kailua Village <br /> Redevelopment Regional Center TOD in the Kona Community Development Plan, which <br /> was adopted after the effective date of Ordinance No. 05-74. The Kona CDP directs most <br /> future growth within the Kona Urban Area and encourages growth towards Transit- <br /> Oriented Development(TOD) areas. In addition, several Kona CDP objectives,policies <br /> and actions support the creation of affordable housing, which is required under Condition <br /> O of this ordinance. <br /> The requested Multiple-Family Residential zoning would continue to be <br /> consistent and compatible with this particular section of the Kailua-Kona area which <br /> consists mainly of residential subdivisions and multi-family residential developments. To <br /> the east is a property zoned RS-10 and further east is the Aloha Kona Subdivision made <br />