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The other point thatÓs brought up is that the Applicant is not ready to start the project,
<br />thereÓs no financing. ThatÓs true, thatÓs true. But I tell you, you ask every applicant that
<br />goes for an SMA Permit, you ask them if they have a construction
<br />rarely youÓll find an applicant ready to proceed once the SMA Permit is issued. The next
<br />applicant before you, you know, you have a conceptual drawing basically no different
<br />than what you have on the board there. And if you ask them, you have a construction
<br />plan? TheyÓre going to say no. More than likely theyÓll say no. Part of the reason why is
<br />that you donÓt what kinds of conditions may be imposed by the de
<br />Commission, which may force you to go back to the drawing boards and make some
<br />adjustments. If, for example like, you know, this project were
<br />three- or four-story high, like, you know, a 50-foot high building, for example, and the
<br />Commission requires as the Director is proposing that the height of the building not
<br />exceed 40 feet. Then youÓve got to go back to drawing board. You have to, you know,
<br />make some changes. But, alternatively, if you want to take the risk and prepare your
<br />construction plans, pay your architects, pay your engineers to do all of the structural and
<br />the civil evaluation to construct something predicated on a 50-foot high building and you
<br />got to make the changes, well, thatÓs all money down the drain.
<br />And, so, almost always, youÓll find situations where, and this is based on my 15 or 16
<br />years of working with applicants, be it small or large, and thatÓs the situation. You, very
<br />rarely youÓll find someone coming in with construction plans at this level.
<br />And I think that part of the reason why is that, you know, thereÓs so much anxiety, more
<br />recently, you know, thereÓs so much anxiety, thereÓs so much, you know, controversy,
<br />thereÓs a lot of turmoil going on with the permitting system. And I cannot help but feel
<br />the way we are right now. I have a difficult time being in a position to advise clients like
<br />what is or what cannot be done, you know, just as a result of recent judicial decisions.
<br />And more than that, right now, if they ask me, can we or can we not do concurrent
<br />processing, IÓve got to tell them I donÓt know.
<br />The other question that was articulated over here is that what you see over there is
<br />probably maybe not what youÓre going to get. That is true, because we donÓt know what
<br />the conditions may come about. But, thatÓs why, you know, if yo
<br />conditions thatÓs been recommended by the Director for the Project District, you have all
<br />these envelopes that you have to kind of be, you have to massage the project. You have
<br />to massage the project to comport with it. Almost all the Project Districts, and thereÓs
<br />been a number of Project Districts that have been approved, youÓll find that they donÓt
<br />necessarily comport to exactly what you see over there.
<br />The most recent one I can think of which I was involved in is thwali project.
<br />The ManiniÒwali project, you know, right next to KkiÒo, you know, you were talking
<br />about a 174-acre area which is almost twice as large as this area. You talked about like a
<br />900-room project, you talked about a golf course; and, today, we donÓt have that.
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