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CASE #42204 — KARKHECK, JAMES <br />TM K 8-1-023-021-0000 <br />Appellant was not present. Present for the County was appraiser, Jennifer Long <br />The parcel is a 5.72 acre lot with various improvements including a dwelling, a detached living space <br />and multiple sheds and is located in South Kona. <br />The land and building values are being appealed. <br />County presented their case together with any and all information provided by the appellant. County <br />recommended sustaining both the assessed land and building values. A call for questions was made. <br />Mr. Harano moved to sustain the County's position — land at $95,100 and building at $215,600. <br />Seconded by Ms. Blancett-Maddock. A call for discussion was made. Motion passed by a vote <br />of 5:0. <br />CASE #42231 — REGAL CINEMAS INC <br />TM K 7-4-020-012-0000 <br />Appellant's authorized representative, Chet Yancey was present via phone/speakerphone. Present <br />for the County was appraisal supervisor, Dionne Costa. <br />The subject property is the Regal Cinemas located in the Makalapua Center in Kona. <br />The building value is being appealed. <br />The appellant's representative presented their case. County presented their case and recommended <br />applying a 20% discount for the impact of Covid-19 which is in line with discounts offered for this type <br />of economic obsolescence. A call for questions was made. <br />Mr. Harano moved to accept the appellants land value of $8,565,400 and building value of <br />$1.00. The motion was seconded by Mr. Hughes and further explained his reason for <br />seconding the motion. Mr. Harano explained his reasons for making the motion. A call for <br />discussion was made. <br />Mr. Okumoto motioned to give a 50% discount of the total value assessed. Mr. Okumoto <br />withdrew his motion. <br />County sited Chapter 19, Section 19-67 stating that each parcel of real property shall be assessed at <br />the nominal sum of $100. <br />Mr. Harano amended his motion to accept the appellants land value of $8,565,400 and building <br />value of $100. Seconded by Mr. Hughes. A call for discussion was made. Motion passed by a <br />vote of 4:1 (Blancett-Maddock). <br />Page 5 of 6 <br />