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BKukuiDevAmendREZ0574.crk-7-29-15 COUNTY OF HAWAII PLANNING DEPARTMENT BACKGROUND REPORT KUKUI DEVELOPMENT, LLC CHANGE OF ZONE ORDINANCE NO. 05-74 (REZ NO. 2004-000022) AMENDMENT TO CONDITION C (COMPLETE CONSTRUCTION) KUKUI DEVELOPMENT, LLC. (formerly Kona Hale Alii, LLC)has submitted a request for a 5-year time extension to comply with Condition C (complete construction of 92-unit Hale Nanea Condominium) of Ordinance No. 05-74, which rezoned approximately 6.27 acres of land from an a Resort-Hotel-1,250 square foot per unit(V-1.25) and an Agricultural-1 acre (A-la) zoning districts to a Multiple Family Residential-2,500 square foot per unit(RM-2.5) zoning district. The property is located along the south side of Hualalai Road, approximately 1,100 feet mauka from the Hualalai Road-Kuakini Highway intersection, Hienaloli 6th and Auhaukeae 1st, North Kona, Hawaii, TMK: 7-5-009:067. APPLICANT'S REQUEST 1. Request: The applicant, Kukui Development, LLC, is requesting a five (5)-year time extension to comply with Condition C (complete construction) of Ordinance No. 05-74, which rezoned approximately 6.27 acres of land from a Resort-Hotel 1,250-square foot (V-1.25) and an Agricultural 1-acre (A-la) district to a Multiple Family Residential— 2,500-square foot (RM-2.5) district to allow the construction of the ninety-two (92)unit Hale Nanea condominium development. (Planning Department Exhibit 1 — Amendment Application dated May 8, 2015) 2. Reason for the Request According to the applicant, Kukui Development, LLC became the owners of the subject property in 2013, and have been working to complete the processing and build-out of this project since that time. The damage done to the housing industry by the financial market collapse has created unforeseen difficulties completing the project within the required timeframe. Moreover, the applicant's construction financing is contingent upon receiving a 5-year time extension to complete construction. Re: Bill 91 (Comm. 467) -1-