2003-11-21 TCONTINENTAL - Laserfiche WebLink

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think IÓll start thinking about solutions from here on out. Obviously, the community has some concerns; and I think there is a practical solution. IÓd like to share with you the storm water pollution, oh, this is concerning the rezoning of the industrial property which is now part of the Hilo Coast Powe RS zoning. I would just like to share with you the storm water pollution plan and, particularly, a map showing which portion of the property weÓre discussing and how it inter -, how it is interfaced with the electric plantÓs current industrial activities. IÓm just going to give you the whole thing, but thereÓs several maps; and it just gives you a little bit of a visual picture of what weÓre talking about. HeÓs talking about rezoning to residential right amongst the plant activities, and I believe in an area that is part of, that they have to be concerned with storm water runoff. So IÓm just going to offer that up. I canÓt afford to copy it eight times but I brought you the original. Also, IÓm glad that everybody came today, I felt so alone; and I know that everybody else has more standing than I do concerning public access. I think that what everyone is saying about being discouraged from going down there is part of what the State CZM law is addressing, that the public should not be discouraged from using beaches that they have been using historically. And thatÓs where the difficulty comes in because of this negotiated agreement that made all these decisions for us. We didnÓt know this when those hearings were taking place, that this was done in the back weÓre happy that we have the trail and the opportunity to go on arguing about this. I just hope that everybody will understand that the Pepeekeo Community Association is cutting themselves a special situation that the public will not have, and in this case I think that, ultimately, the Hawaiian people have to be held up as the public deserve we all deserve, and nothing less. IÓd like to talk about asset value of the property. And in our SMA laws it does state that there is an accumulated impact. I can address those issues of accumulated impact of this development, and IÓm going to do so now. IÓd like to say that the accumulated impact could be viewed as the fact that the asset value of the greater parcel will be diminished to a point where it may assure that the coal ash will be cleaned up. I brought with me today a map of the property and a listing for the sale of the 779-acre parcel. It was withdrawn from the market in August when these hearings began, but the price that they were asking for the 776 acres was $7,760,000. Assuming that the portion weÓre talking about today is going to be approximately 11 lots and theyÓre currently selling at about, listed at, those oceanfront lots are currently listed at about $395,000 apiece. this hearing heÓll be able to parcel out 1l lots, thatÓs worth about $4 million. That would not be part of the 776 acres but thatÓs still a value heÓll be able to parcel out. I have a map here for you that shows the various smaller parcels that he will be able to sell independently of dealing with the coal ash pile. I believe that the Hawaiian Rainbows group is approximately paying $3 million for the 550 acres, including the coal ash pile. If IÓm wrong, IÓm wrong; but I believe theyÓve been marketing it at $3.5. That 19