COM 0911.000 2014-2016 - Laserfiche WebLink

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escrow rather than directly to the County.The applicant proposes the following specific language to replace the current condition: "The applicant may defer the payment of the fair share contribution by executing irrevocable escrow instructions, in form reasonably apptoved by the Planning Director, requiring the payment of the fair share contribution attributable to each single family residential unit, in the amount determined on the closing of the sale of each single family residential unit to a third party purchaser. Said escrow instructions shall be approved by the Planning Director and executed by the applicant prior to final subdivision approval of any portion of the subject property or within five (5)years from the effective date of this change of zone ordinance, whichever occurs first. The fair share contribution may be adjusted annually beginning upon the effective date offinal nal subdivision approval, based on the percentage change in the Honolulu Consumer Price Index(HCPI)." 2. Landowner: Alii Palms, LLC. 3. Supportive Information: The applicant has submitted the attached in support of the request: (Planning Department Exhibit 1-Letter dated September 25,2015 titled 'Request for Amendments to Change of Zone Ordinance No. 04 56' and P.D. Exhibit 2-Letter dated September 25,2015 titled`Request for Amendments to Special Management Area Use Permit No.441'). CHRONOLOGY OF DEVELOPMENT 4. May 19,2004: Ordinance No. 04-56 was adopted by the County Council to rezone the subject properties from Agricultural- 5 acres(A-5a)to Single Family Residential-7,500 square feet(RS-7.5). (P.D.Exhibit 3-Ordinance No.04-56) 5. May 19,2004: Effective date of SMA Permit No.441,which was issued on December 30,2003 by the Planning Commission to allow a the development of 58 single family lots and dwelling units. (P.D.Exhibit 4-SMA Permit No.441) 6. August 25,2005: Planning Director approved Planned Unit Development(PUD)No. 2004-000003 to allow various roadway standards of the Subdivision Code and minimum lot size, average width, and various yard setback requirements of the Zoning Code for a 58-single family lot development. (P.D.Exhibit 5- PUD No. 2004-000003) -4-