2005-03-18 TWAIKOLOA - Laserfiche WebLink

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When that Memorandum of Agreement of understanding was signed with the County, it was clear that that land was donated for the purposes of the beach resort, but it was also, and the memorandum itself acknowledges that it was intended to complement the Highlands. The reason it wasnt dedicated for the Highlands is that there was no affordable housing requirement for the Highlands, and weve provided to you as an attachment to our Wednesday afternoon letter an opinion from Corporation Counsel from June of 94, which opines that Waikoloa Highlands does not have a housing condition as the change of zone for the Highlands involved agriculturally-zoned land which does not trigger a housing condition. I know the value of that land, probably about 10 years ago, was more than $36 million, according to an assessment that was done for the County. I suspect the value of that land is significantly higher today. In 1995, we came before the Council with our last request forextensionoftimeonthisproject,andthatextensionoftimewaspassedwithoutan affordable housing condition. I think we have a respectful disagreement of opinion between myself and the Planning Department as to the applicability of the new affordable housing policy. I read the sections of that policy regarding its applicability only to new rezonings or to prior rezonings that contain an affordable housing condition. I feel very strongly that this is neither. This is not a new rezoning, its a rezoning that happened many years ago. And its not a prior rezoning that contains an affordable housing condition. It never did. I think the point I wanted to emphasize, though, in the affordable housing issue is the recognition that affordable housing is an important issue to the community; and as recognition of that, the 300 acres was donated. I think ironically had there been an affordable housing condition for the Highlands back then, the value of the property would have more than satisfied both the condition, the affordable housing condition for the beach resort, as well as the affordable housing condition for the Highlands, had there been one. So now to come and be before you with a recommendation that, you know, therell be yet another affordable housing requirement, I do feel compelled to state a very strong objection to the record, for the record against that condition being imposed. With regard to Paragraph G, thats the paragraph in the Recommendation that recommends deed restrictions. There are deed restrictions that have already been a commitment of this project that we provided and received approval for, language in the deed which restricts use to a single dwelling. We do object to an additional restriction based on a condominium property regime limitation, which is the recommendation in Paragraph G. The reason for that is that the condominium property regimes are a form of ownership of land, not a form of land use regulation. Its a method of owning property. It doesnt necessarily regulate how many people may use that property or how they may use it. 9