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going to be the plan? Is it going to, are the credits going to be provided to another developer or
<br /> are you folks intending to develop the affordable housing, and if so, where?
<br /> M. MANSL Yea, I think I can speak to that, and Daryn, correct me if I'm wrong. But I believe
<br /> we have already purchased the credits, and we have them in our possession. It's been a few
<br /> years, but we bought them from another landowner or developer on the island a couple years
<br /> ago.
<br /> ARAI: That is correct. I think it was called Westview Developments, and 12 housing credits
<br /> were purchased in satisfaction of their obligation.
<br /> FUKE: If I can just add to that, you know, to Commissioner Paishon-Duarte's question, that the
<br /> simple answer is that, yes, they have fulfilled their affordable housing requirement. I think the
<br /> question is like whether they would entertain provision of additional affordable housing within
<br /> the project or elsewhere. I think that's probably the question that you may be asking, and that's
<br /> something that the developer may have to consider.
<br /> PAISHON-DUARTE: Follow-up question, are you able to divulge who you are buying the
<br /> credits from?
<br /> FUKE: They already purchased the credit, and then they've essentially fulfilled the affordable
<br /> housing obligation, but it's not unusual for the County, you know, whether the Council, you
<br /> know, to require or influence additional affordable housing requirements, and largely coming at
<br /> the request of the, you know, the applicant's consent, yeah.
<br /> VITOUSEK: I would also point out that they completed the affordable housing component of
<br /> the expired ordinance, right? So we are not looking at that ordinance; that ordinance is expired.
<br /> So at this time, as Mr. Fuke said, it's perfectly appropriate to recondition that and request
<br /> additional affordable housing or additional commitments.
<br /> FUKE: Don't get me wrong, I don't want to put words in the client's mouth. But I believe
<br /> that—and this maybe can be confirmed by, you know, your counsel—you know, specifically, I
<br /> believe that the affordable housing requirement runs with the land, because before the, that
<br /> requirement can be satisfied, there has to be an agreement between the landowner and the
<br /> County of Office of Housing to specifically state that this requirement has been, you know,
<br /> complied with.
<br /> PAISHON-DUARTE: If I may follow up
<br /> VITOUSEK: Commissioner Paishon-Duarte.
<br /> PAISHON-DUARTE: Thank you. Thank you, I have a question, or comment and then a
<br /> question. So my comment is you, I think, Mr. Mansi, you estimated about 700,000 dollars for
<br /> sale price; however, it sounds like it needs to be recalculated. So if we were to look, you know,
<br /> looking at the current census and you look at Hawaii Island median income is at 65,000 dollars,
<br /> you know, for median household income, so it sounds like the units that would be available for
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<br /> EXHIBIT D
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