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15. September 19,2008: A 2nd Time Extension was granted by the Planning Commission for <br /> SMA 388 to December 13, 2013, to complete the project. <br /> 16. DPM Acquisition LLC (current owner) acquired the property in 2013. <br /> 17. June 9, 2014: A 3rd Time Extension was granted by the Planning Commission for SMA <br /> 388 to May 15, 2019. <br /> 18. May 22, 2017: A new Final Plan Approval was issued for a 46, 3-bedroom unit <br /> condominium. The approved plans were similar to what was approved previously. <br /> 19. January 21, 2021: A 4t' Time Extension was granted by the Planning Commission for <br /> SMA 388 to January 20, 2026, to complete the project. Since the May 2017 Plan Approval <br /> was not completed within two(2)years and hence expired;without further action,the SMA <br /> Permit(SMA No. 388) was automatically voided. <br /> 20. May 1, 2023: Baywood Dai Inc. entered into a purchase and sales agreement with DPM <br /> Acquisition, LLC to complete the project. <br /> 21. September 6, 2023: A new SMA Use Permit application was submitted to complete the <br /> proj ect. <br /> DESCRIPTION OF PROPERTY AND SURROUNDING AREAS <br /> 22. Description of Property: The project site is located on the makai (seaward) corner of Alii <br /> Drive and Kahakai Road, immediately south of the Royal Kona Resort Hotel and north of <br /> the Kona Reef Resort Condominium. The property is approximately rectangular in shape, <br /> sloping from Ali'i Drive towards Kahakai Road. It is currently developed with a large <br /> concrete foundation structure that takes up most of the subject parcel. Security fencing is <br /> in place to minimize hazards to pedestrians and alleviate trespassing. Although the <br /> foundation, retaining walls, and underground parking structure were properly permitted <br /> and inspected, based on a most recent survey, it was discovered that portions of the <br /> improved area encroach into the 20-foot front yard setback plus the future 10-foot right-io- <br /> way fronting Kahakai Road. As such a variance application will be submitted for approval <br /> by the Planning Director. Because the site falls within the bounds of the Kailua Village <br /> Special Design District, it may be reviewed by the Kailua Village Design Commission. <br /> The site has little to no vegetation or landscaping as the foundation takes up the majority <br /> of the subject parcel. <br /> -3- <br />