2005-03-18 TWAIKOLOA - Laserfiche WebLink

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a new Condition E of the 1995 ordinance as it appears in the Background Report. I just want to make sure that Im referring to the correct item referenced by the Director. YUEN:Yes. SPRINGER:Thank you. GALDONES:Further questions, Commissioners? Commissioner Graham? GRAHAM:I have a question for the Applicants representative. Actually, this is sort of a broad overall kind of question and it actually may be inappropriate to ask at all, but let me try. Im thinking from reading the letter written January 5 by Mr. Rohr about the reasons for the delay and all like that. And Im just, like at the top of the second page, this is Exhibit A in the Background Report, Additionally, although the marketconditionsanddemandforresidentialpropertyhaveincreasedwithinrecent years, the focus has been, and continues to be on oceanfront property. And it goes on to say, With no market for a development such as the Highlands Golf Estates and Golf Course project and so forth. And, so, Im kind of wondering -. I mean weve all seen what a rapid rise in real estate weve had on this island in the last few years. And, in fact, there is, given this which seems like the most, almost optimistic scenario one could ask forfor development when the owner here, Mr. Rohr writes that theres no market for this kind of project, what are we really talking about here? I mean, where is this all going to, what are we aiming at? Is this just kind of retaining some vested rights so that only gets developed a different way they can be used, or is this time just a long wait until this kind of project maybe does become in fashion again, or -? I just feel like we got all these specifics were dealing with and I have no idea where all this is really going in real life. BAIL:Ill do the best I can to answer your general question. I mean, first of all, as a threshold this is a request for an extension of time. And I would hope we would never be coming back to you for another extension of time and that things will proceed expeditiously. I think while the housing market has definitely turned around in the last five years, it has taken time to do that; and had you been in the planning stages at the beginning of the last five years, it would have appeared very differently back then. The other uncertainty has been the Hokulia case and what the outcome of that case would be. There has been, I think the one thing everybody can agree about with regard to Hokulia is that there is a lot of disagreement, and that has always been the case. And I think the existence, the filing of the lawsuit itself was a disincentive to move forward with development plans not knowing what the outcome would be in the Third Circuit, or as were currently waiting from the Hawai i Supreme Court which has now decided not to hear that case on an expedited basis. So while I think in hindsight, you know, its easy to armchair quarterback and look back in the last five years and say, well, its a pretty rosy picture for development now, that perspective would not have been the same at the beginning of the last five-year period; and I would hope, given the better outlook for financial investments in real estates at this 13