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2007-02-02 TKOOB
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2007-02-02 TKOOB
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approved by the special use permit that’s for two transient guest rooms, and also a faculty or <br />guest room, and a staff room. And we need that kind of like support to be there. I think that’s all <br />it’s about. We don’t want to create a community with permanent, it’s not about that. We really <br />realize that our mission is to provide nature, culture and wellness programs to the community at <br />large. People from all over the state come to Kalani. People from all over the world come to <br />Kalani. And it’s really what we want it to be. We’re not trying to create a permanent <br />subdivision. <br />GRAHAM: Good. Thank you for your words. Anybody else here? Commissioner <br />Rho? <br />RHO: This is my last question. I guess I’m trying to get my head around this <br />concept. But on the agreement to purchase membership interest, on the third page, its terms and <br />disclosure, No. 1, and then it talks about in exchange for members payment of a purchase price <br />of $200,000-$900,000 [depending on retreat size and location] member receives, etc. I guess <br />when I read this initially what I did was I marked it up and I circled $900,000. And I said what <br />does this look like? Because it’s, the way I understand it it’s a retreat, to construct the retreat <br />home arranged by Kalani Honua. So if I’m the member, and I don’t have $900,000 to give you, <br />but if I did have $900,000 and I was a qualified member, could my hale that I would build with <br />your assistance or whoever be twice the size than what’s proposed whenever this thing was <br />submitted? <br />SQUASSONI: This is Paul. Absolutely not. <br />RHO: Absolutely not. So can you describe to me what $200,000 would look <br />like, what a hale looks like at $200,000 and what one looks at $900,000. <br />GRAHAM: Mr. Squassoni, you’re going to respond to this then? <br />SQUASSONI: Yes, I am. <br />GRAHAM: Okay. Thank you. <br />SQUASSONI: If $200,000 you would build two cottages. And $900,000 you would <br />build an entire cluster. There is obviously a difference in construction costs between building, <br />between putting in a membership that would provide for the building of two cottages and putting <br />in a membership that would provide for the building of an entire cluster. That’s where the <br />difference in cost is. You don’t get to build a mansion. This is an investment in the community <br />and an investment in Kalani. It’s not, there’s no -. <br />RHO: Therefore, one unit consists of G, G, F and S, and the hale, right? <br />SQUASSONI: Yes. <br />RHO: And that costs $900,000 if I wanted to build one unit? <br /> EXHIBIT C 24 <br /> <br />
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