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get freedom of movement. The idea is like we want to protect the surrounding or existing
<br />neighborhood’s concerns about not having additional traffic come in. But at some point in time
<br />in the future, you know, who knows, they might like see like, you know, I can just get across
<br />there but I can’t because of this bollard. So there might come a time in the future where if the
<br />residents desire to have those bollards removed and have it served as an unrestricted access
<br />between those two areas, then you would have the infrastructure capable of accommodating that
<br />need.
<br />I think the question was asked in terms of the estimated value. The estimated value of the
<br />project right now in today’s dollars probably, upon full buildout, would be about like
<br />$300,000,000. Now obviously it’s too much for any single developer, let alone a local hui whose
<br />primary interest is more on the medical component. So what they intend to do is to, you know,
<br />it’s a 171-acre site, they would like to, they have intentions to invite other developers to develop
<br />different components of the project pursuant to an overall master plan. It’s kind of like no
<br />different than a lot of the major developers like on the South Kohala coast, whether it’s Hualalai,
<br />Kaupulehu Development, or Mauna Lani, for example, where you have a major master plan
<br />prepared and then certain areas are then sold off to different developers for actual developments.
<br />So that’s the concept they have to kind of help underwrite the heavy on- and off-site
<br />infrastructure approach. They hope to complete the initial phase, which is largely the medical
<br />component, within five years after approval of the, if they get successful approval of the zone
<br />change. Total build-out is anticipated to be 15 to 20 years.
<br />There are some conditions which I think the staff may have passed out to you that we would like
<br />to discuss with the Commissioners and the Planning Director and, you know, request your
<br />considerations for. It’s like a white sheet with a 3-hole punch in it. Okay, if you make reference,
<br />you know, if you refer to the water master plan, what, maybe I should just kind of back up.
<br />There are like a number of conditions. And, again, partially to answer the question raised by
<br />Commissioner Domingo earlier, are there conditions that address floodway, drainage, are there
<br />conditions that address traffic improvements? The unequivocable answer to those questions is
<br />that, yes, you know, there are specific conditions that the developer is obligated to fulfill. But
<br />one of the things, and some of the triggers behind that, you know, there was just a generic
<br />trigger that says that, you know, when you come in for a subdivision, for example, then certain
<br />things get triggered. So what we wanted to make clear by some of these amendments is that
<br />when you go in for like a bulk lot subdivision, you know, as I mentioned earlier they may want
<br />to create like a 10- or 15-acre lot. Maybe for the medical component, they want to be able to
<br />subdivide that portion and then be able to finance, you know, that portion or sell it to someone
<br />else who would actually then develop that respective parcel. What we’re suggesting here is that
<br />when that happens that certain requirements do not necessarily trigger. However, when that
<br />particular parcel is then further developed, before it actually gets developed then the
<br />requirements to address the water, you know, drainage, traffic, so on and so forth come in.
<br />We’ve tried to make the separation between a bulk lot subdivision versus like a regular. Because
<br />if you’re going to subdivide this 171 acres maybe into two or three lots and then you get all of
<br />these things triggering when it’s really not set yet, then, you know, it becomes, you’re going to
<br />have to repeat that exercise when that person actually does the development. So we wanted to
<br />kind of make that separation.
<br />So Condition A, excuse me, the amendments, the proposed amendments to Condition J relating
<br />to water master plan basically makes that recognition. It doesn’t dismiss the applicant’s
<br />obligation to come up with a water master plan. It just kind of pushes down when it’s more
<br />realistic.
<br />Condition S relates to an emergency vehicle access. Now this is something that I guess the
<br />Planning Director really would have to weigh in on. You know, we have no objection to the
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<br /> EXHIBIT C
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