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greater. The reality is that the level of traffic generated by a mortgage company is next to <br />none. Consider the alternative: a multi-unit housing complex would have more cars <br />coming and going more often and at more around-the-clock hours. <br />As far as the objection that approval of this application removes viable housing from a <br />tight residential real estate market, thats valid. However, in the bigger picture there is a <br />large volume of spec construction currently being built on this side of this island. Once <br />these homes hit the market, which we are beginning to see at this time, the balance of <br />supply and demand should be more in check. There are also some large multi-unit <br />housing complexes being proposed and currently in design. Finally, on the bright side of <br />the recent revision to the General Plan, the doors are now open for applications for multi- <br />unit residential projects in this neighborhood. The reality is that this housing shortage is <br />most likely short-term and should be turning around soon. The combination of a large <br />volume of residential construction and an eminent increase to interest rates will balance <br />supplyanddemandinthenearfuture.Removalofoneresidentialunitfromthehousing <br />market will result in minimal impact, especially when the use will be changed to house a <br />company that specializes in providing affordable and creative residential mortgage <br />financing. <br />I encourage the Commission, as well as the County Council, to examine why we have <br />experienced this shortage. It has been partially driven by the tightening and constraints <br />on zoning, including the elimination of CPRs and Ohana units. <br />Finally, I would like to address the concern about the parking lot being used for drinking, <br />drugs and other covert activities after hours as was brought up at our last hearing. I was <br />posed the question if I would have any objections to blocking the driveway entrance with <br />a gate or a chain. My reply was I have no objection to this proposal. In fact, after further <br />thought and consideration, I would even install motion-sensing flood lighting in the <br />parking lot to help prevent any activities of this nature from occurring during non- <br />working hours. <br />Obviously this General Plan revision has created quite the controversy. I remind you of <br />st <br />Directors Yuens testimony on July 1, ‚the General Plan change is definitely a strong <br />plus factor in this application.Im sticking with ourrecommendation. The word is out <br />of this General Plan revision. You are certain to see future applications for zone changes <br />in this area. I know of at least three other zone change applications for properties on <br />Manono Street that are in process and coming your way in the very near future. Case in <br />point, please refer to todays agenda, you will be reviewing an application later this <br />morning for an industrial use in this same neighborhood. <br />I have received support from several immediate neighboring property owners. Aaron <br />Bandy was not able to join us, but submitted the letter provided to you this morning. <br />Finally, as a businessman, I would like to share one final motivation for you to consider. <br />Allowingmetolocatemybusinessinthispropertyaffordsmethelong-termstabilityof <br />affordable office space. I have recently been given notice to vacate the premise that <br />5EXHIBIT A <br /> <br />