PD Recommendation Report Lili'uokalani Trust (PL-REZ-2023-051)

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that the zoning is still appropriate for the area based on the general plan and community development plans, and to curb speculation and resale of undeveloped properties. In this case, the Director is recommending deletion of the remaining timed performance conditions (Condition B and C)rather than granting another time extension for the following reasons: 1. The subject property, like the other lands in the Keahuolu auhupua`a are owned by the applicant and like the surrounding properties, will be developed under leasehold and not sold, thus mitigating the concern over land speculation and resale. 2. The rezone area and subject parcel is situated in an area that was originally and has been continuously zoned and developed for industrial and commercial uses for nearly sixty years and is one of the few remaining lots yet to be developed. As such, no other zoning or land use would be appropriate in the area and it is highly unlikely that future land use plans will recommend changing the existing land use pattern. 3. The applicant has completed off-site infrastructure improvements required by the current ordinance to accommodate the commercial development of the subject property. This, combined with the availability of required utilities and services makes the site "shovel ready" for development subject to the remaining rezoning conditions and current development codes, regardless of how long it takes to lease the property. 4. Had the State not needed part of the property in 1971 to accommodate the widening of the highway, the rezone area would likely have been similarly zoned CV-10 at that time, and not subject to any conditions of approval under Ordinance 400. This creates a situation where any subsequent time extension condition will only apply to the 0.874-acre rezone area, and not the remainder of the larger 4.61- acre property of which it is part. Thus, deleting the timed performance conditions for the rezone area will bring the divergent development requirements of the entire property into alignment. Finally, as deletion of Conditions B and C will eliminate the last timed conditions and all the other substantive conditions of approval have been met, the Director also 10