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Mel of 1 sf a -C T V"l- �-A <br />Testimony in opposition to Bill 121 <br />Date: 4/3/24 <br />To: Windward Planning Commission <br />From: Megan Isaac Magdalene, Hilo resident and STIR Operator (12 years) <br />Aloha. <br />I don't think it's an exaggeration to say that this legislation is likely the most <br />fiscally irresponsible legislation ever to appear before your Commission. <br />It's unethical and it's also illegal and will result in multiple law suits since it <br />involves interference with property rights. <br />Hosting is the largest industry sector: <br />Given that there have been no successful initiatives to bring in new industry or <br />employment 'at scale' to the island in a few generations (besides tourism), it is <br />shocking that a Council would lean in so heavily to regulation and restrictions on <br />the one industry that has provided income and generated economic activity <br />throughout the island. <br />A study done by Grassroots Institute on the $350 million value to the island <br />economy is cited here: . <br />"ttps://www.grassroutiristitute.otg/2U2/U3/hawaii-county-should-be-wary-of- <br />short-term-rental-ban-kent-says/ <br />Spending patterns of visitors favor the island when they choose hosted <br />stays : <br />Living in the city of Hilo with one of the poorest demographics in the entire USA <br />(** reference is to census data) we are aware of how essential tourism is to East <br />Hawaii. Why is this being ignored? It is well documented that the spending <br />patterns of visitors staying in our communities is completely different from the <br />spending pattern of guests in resorts and large hotels. <br />Bill 121 if passed will harm the economy: <br />The point was clearly made that Bill 121 will be devastating to an extremely vital <br />sector. The testimony given was about the ways Bill 121 will harm the economy. <br />STRs are also essential to our farming communities and to our economy as a <br />whole.lt is easy to acknowledge that our economy lacks diversity. It would be <br />better if the island's economy was more robust and did not rely so heavily on <br />tourism but let's not take away the means that farmers have to supplement their <br />income. <br />A study done by UHHERO about the cause of high housing costs bein rooted <br />over regulation is here: 'd at as by <br />https://u hero.hawaii.edu/measuring-the-burden-of-housing-regulat 'd V Rwd <br />