2009-10-02 TBOSCHETTI - Laserfiche WebLink

Home

ISHIBASHI:Access? LIM:Whatever it takes to get him to his house. ISHIBASHI:Through Kukuau. Okay, thank you. WOODWARD:Commissioner Ogata, you had a question? OGATA:Oh, yes. I was wondering if you could highlight or maybe just briefly talk about the intentions of the developer as far as the green building issues. LIM:The green building issue, I think a lot of it is going to be feasibility issues; and that’s part of what Mr. Donahoe was raising, you know, are we going to have solar panels and those types of things. We were talking about it earlier in terms of what the market plan for the project is. As you guys probably know so far Hilo hasn’t been a hotbed of condominium developments. And it’s because of the availability of land and the, I guess, the reluctance of the Hilo community to essentially put your money down on a building that’s not standing there already. I think a couple of people have tried and not been successful.Mr. Boschetti has pretty good financial strength and has other properties here in Hilo that he’s the owner of; and he feels confident that in a couple of years that the market will come back. We don’t know exactly what the mix of sales prices would be, and we don’t know the mix of sales versus rental. In some degree Mr. Boschetti is, at least our experience with him, is that he buys and develops in whole. So it may be that he does rentals for this project, but we just don’t know at this time because of the market instability. So to, long way to answer your question about, you know, we don’t know how much lead type of measures will be put in there because of the feasibility issue. It’s not like where you go to Kona where you have a big margin of profit. In Hilo it’s significantly less. LEITHEAD TODD:Mr. Lim, in the middle of your packet of information, and it’s labeled Exhibit 4, it’s basically the existing tax map for the property. And it shows on that map that the plan was, I guess, that Hualalai Street would continue up through the next property, and that’s the next rezoning that’s coming through. And then that long skinny parcel that you have would be Kupukupu Street. So I guess that was the long-range plan as presented to the County many, many years ago. LIM:I don’t know if it was presented to the County but that’s what was recorded in the Land Court subdivision. LEITHEAD TODD:The Kupukupu Street? LIM:That’s correct. I think it’s, in the end it didn’t turn out to be a street. But looks like at least, we’re only guessing cause we don’t know, but we’re guessing that there’s supposed to be series of roadway network for this area. As it turned out, you know, if you look at the Exhibit 4, Parcel 132 I believe is developed with single family residences at this time. LEITHEAD TODD:Well, I guess, you know, one of the questions that, you know, I didn’t pursue when this came through in our office was, I guess, the question of if the long-range plan 12 EXHIBIT A