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order to comply, it would have to be affordable to those families earning less than 80 percent of <br />the median. And I think that in a small way it does increase opportunities for affordable housing. <br />IWASHITA: But as far as the basic concern raised, and that is that there is sufficient <br />residential inventory now that there’s really no need now or in the foreseeable future for <br />additional residential lots. You don’t have any contrary information? <br />NISHIMURA: Well, you know, the planning process and the subdivision process is a <br />very long process. And so the initial inquiry by the owner about pursuing a rezoning came to me <br />over a year ago. It’s going to take another year to complete or to go through the subdivision <br />process if this application is approved. And so, you know, it’s hard to predict when, or the <br />timing of what the market situation will be when the lots are actually available. <br />IWASHITA: Another follow-up, Mr. Chair. The subdivision that’s already approved <br />almost across the street, I guess, from this property, that has not been developed, right? <br />NISHIMURA: Which one are you referring to? The one in the yellow? <br />IWASHITA: Well, maybe I’m mistaken. There is, is there not, the property associated <br />with Nani Mau Gardens Subdivision, the one that we did the additional lots, we got through the <br />additional lots for nothing. Maybe staff can help. <br />HAYASHI: Are you referring to the Nani Mau Properties where they rezoned the <br />property for residential use, for one-acre sized lots, is that your question? <br />IWASHITA: The property that we considered that, we added, like was it two or three <br />lots on the time extension. <br />HAYASHI: That would be in this light green shaded area. <br />IWASHITA: Right. That subdivision has not been developed, right? <br />HAYASHI: They recently got the approval for a time extension about six months ago. <br />I guess they’re in the process right now to develop that area. <br />IWASHITA: Okay. But, in fact, it has not been developed and they asked for an <br />extension? <br />HAYASHI: I don’t know whether they had submitted their subdivision application or <br />not. <br />IWASHITA: Okay. So, I guess, well, that’s fine. I just wanted that clarified on the <br />record that there already is an approved subdivision that has not been developed and a time <br />extension granted. For what, another five years we granted them to complete? <br />HAYASHI: I believe that’s the amount of time we afforded them. <br />IWASHITA: Thank you. Thank you, Mr. Chair. <br />7 <br /> <br />