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MOORE:ThatÓs true, but weÓre also at risk. If we do put the signals in and <br />we donÓt get Final Subdivision in five years, itÓs possible that our zoning could be taken <br />away with expended resources and wonÓt have the rights to develop under the zoning. So <br />thatÓs the security that we would like in order to accelerate the traffic signal. <br />GRAHAM:I guess itÓs, in regard to that second part of the zoning, it makes it <br />feel like much more of a land speculation project if youÓre not even planning to have your <br />subdivision done within five years. <br />MOORE:Well, weÓre planning to it, yeah. <br />GRAHAM:YouÓre not committing to it, letÓs say. <br />MOORE:WeÓre planning to it, or weÓre hoping. I mean, we still have the <br />condition we need to provide our subdivision plans within one year. ItÓs just that if we do <br />end up expending significant amount of funds that we have performed and, then we can <br />move through the subdivision on track with the market conditions and just being <br />responsive to the market at that point. <br />GRAHAM:In other words, you can move through the subdivision at any point <br />in the future. Once youÓve started, secured, youÓve kind of gotten rid of all time <br />constraints by doing the traffic signal. <br />MOORE:By performing the traffic, that would be what the condition would <br />allow, yes. <br />GRAHAM:Thank you. <br />FUJIKAWA:Commissioner Springer? <br /> SPRINGER:But, Mr. Moore, youÓre suggesting that that final sentence read <br />Ðeither or,Ñ is that correct? <br />MOORE:Yes, the ÐFinal Subdivision or completion.Ñ ÒCause, clearly, to get <br />Final Subdivision now, we have to have the signal improvements in. We canÓt get Final <br />Subdivision without the signal improvements. But under this way, we can put the signals <br />in and have performed, and then our subdivision process can move <br />separate from the traffic signal. Otherwise, there isnÓt a lot of incentive for us to do the <br />traffic signals in advance Òcause, again, it is money out-of-pocket without any income <br />coming back in. So it just helps provide some security to advance some resources. <br />FUJIKAWA:Is there any other question, Commissioners? You may pr <br />Mr. Moore. <br />7 <br /> <br />