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May I say one or two other things? I am speaking to the motion. Jenn stated point of order. Mr. Harano said not at this time to Mr. Hiatt. Mr. Harano asked if the Board was ready to entertain a vote. Motion currently is to sustain the county position of land value at $315,500. Motion does not pass by a vote of 2:1. Mr. Harano voted nay. Sinclair stated a new motion could be called. Mr. Harano made a motion to decrease the land value to $275,000 as opposed to sustaining the County’s land value at $315,500. Call for second to the motion. None given. Motion dies. Mr. Harano asked if there was any other motions at this time. No other motions. Mr. Harano stated to the appellant, Mr. Hiatt unfortunately the Board is deadlocked in terms of the decision. In this situation, it defaults to the County’s valuation of $315,500. Mr. Hiatt thanked the Board. He asked if there was some record that comes back with the deadlock that it defaulted to the County’s position? Sinclair stated it will be in the minutes, you will get a written decision. Mr. Hiatt will request a copy of the minutes of this Board hearing. Sinclair advised he can do a records request for the minutes. Mr. Harano called for a recess at 11:18 am. Mr. Harano restarted the meeting at 11:37 am. CASE #44328 – LILIUOKALANI TRUST ESTATE TMK 7-4-020-012-0000 The appellant’s representative Chet Yancey was present via telephone. Present for the County was appraiser supervisor, Dionne Costa. Note: Prior to the start of this case, Deputy Corporation Counsel Sinclair Salas- Ferguson announced the general procedures of the appeal hearing and advised Mr. Yancey tof the procedure as he was not on the phone at the start of the hearings. The Board would be following for the rendering of their decision and the Appellants’ further right to appeal to the Tax Appeal Court located in Honolulu within 30 days from the date of the decision letter that the appellant will be receiving via certified mail. The property is the Regal Cinemas at Makalapua Center in Kona. The building value is under appeal. Appellant presented his case by phone. Shared the income approach utilizing the past 3 years for a market rental rate compared to what is currently being paid. NOI of $184,204 with a 9% CAP, estimated value is over $2,000,000. This is 20% of land value. The greatest a best use of the property is vacant land as the theatre cannot sustain the annual lease. County stated the appellant’s did provide sufficient information to warrant a discount. County recommends reducing the building value to $4,298,600 and although they did not appeal the land value, the County recommends reducing the land value to $8,223,600.