2020-02-20 Leeward Exh D (AMEND REZ 2004-024 & AMEND REZ 2004-025)

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extension, you have to assure that they are in conformance to the General Plan. So when the time extension was granted in September of 2011, the director at that time said that okay, I'll grant you the time extension, you know, based on the fact that it's consistent with the General Plan. Now like, sure, from 2015, 2016, 2017 they are all getting older. It doesn't make sense to apply for any time extension, if you don't have someone that's really ready, willing and able to do the development. So in 2018-2019, on comes Spring Capital. They said that,they raised their hand, they said like we are willing to do it, but you need to get a time extension for us, because without the entitlements, we can't do it. Ken here is representing the potential developer, Spring Capital Group, and if you want, you can ask him questions about like who exactly is Spring Capital Group. So I turn you now to Figure 8, which is the current master plan. So after they were approached, Brian, Suffolk and Puaa were approached by Spring Capital as a potential developer, they went back to the drawing board, had Michael Riehm kind of like take a look at it, and said how can we massage what was previously approved and expired, to do a project that generally comports to what the CDP is saying, a TOD type of concept. So they said one of the first things you had to do is you had to reduce your commercial area because it's too big; you've got to create more like a walkable area. So that's why the commercial area was reduced from 21, well, was reduced by over 20,000 square feet. And they said besides you have to put residential uses close to commercial area. So if you look at this revised master plan, you'll see the residential activities immediately makai of where the commercial area is going to go. You also see this kind of road connection or pedestrian connection between the north end and the south end of the Puaa project. And if you can find that small little bus transit area, that's also reflected on the plan. So to the extent, you know, that they could, the developer tried to massage the project, revised the project, so that it can better address the TOD concept of the CDP. And with this, now they are ready to apply for a time extension, because we can go before this Planning Commission, we can go before the County Council, and say, yes, we don't have a bogus developer, we have somebody real that's ready and willing to step up. So, Figures 9 and 10, basically gives you an illustration of like what is so-called this pedestrian oriented type of project. The Director is recommending, as the staff had indicated, that, you know, there's a number of reasons why the project should be denied. One is that it's a speculative entitlement. You know, he recommends denial because the request would support speculative entitlement for the purpose of resale. So from the owner's standpoint, we say, okay, aside from the General Plan policies, which generally talk about speculative practices may be established, there is no specific County ordinance or regulation that prohibits the sale of real estate or any business for financial gain. I mean like just, if that's the case, look at the one that you guys just recently recommended for approval, BNP; they clearly said that they were going to sell the property, if they can get the downzoning. What's the difference? If, if Puaa and Suffolk were going to speculate, then I would have to ask myself, like, why didn't they sell the property in 2006 and 2007 before the, you know, the recession came out in 2008? But, no, they continued to pay the real property taxes over 1.3 million dollars, they spent nearly a million dollars in construction cost, I mean the soft cost in preparing all of these plans, and finally, they found a partner. They are happy now. So to me, it clearly shows that they were not interested in flipping the property. If they were 14 EXHIBIT D