PD Background Report (PL-REZ-2022-000033)

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commence within one year from the date of receipt of final plan approval and be completed within three years thereafter; " Upon securing land use entitlements in 1983 (see chronology below), then owner Gamrex Corporation and its development entity, Kona Vistas, LLC spent the next 23 years developing the initial phase of the development consisting of approximately 103.293 acres of RS -15 zoned lands into 215 single-family residential lots/units now known as the Kona Vistas subdivision. The developer secured a series of time extensions on the initial ordinance, which covered both the Kona Vistas subdivision lands and the subject properties totaling 68.837 acres (please note, due to Subdivision No. 18-00185, which consolidated and resubdivided a 1.675 -acre portion of Parcel 17 with an adjoining property, the total land area that is subject to this amendment request is 67.162 acres). The last amendment occurred in 2002, which granted a time extension until November 27, 2007, to secure Final Plan Approval for the first phase of the multiple -family residential component within the RM -5 zoned area with its planned completion no later than November 27, 2011. After substantial completion of the Kona Vistas subdivision, the owner lost interest/ability to complete the multiple -family component of the development and sold their remaining land holdings to two Hawai`i-based development entities, KV3, LLC and Kona Three LLC (applicant) in 2015. Upon this purchase, both entities have made a significant financial and time commitment to complete requirements of the ordinance as well as perform additional 'soft work' necessary to update and align various studies and previous obligations of the original landowner to be in a position to request additional time to complete the last remaining major residential development component that was originally envisioned by the State Land Use Commission and County Council when the entitlements were granted. Furthermore, as the ordinance was stale prior to their acquisition of the properties, the applicant found it necessary to address many project - related, supporting elements needed to be complete to ensure that this time extension request is consistent with the original reasons for granting the original land use entitlements, conforms to current land use policies, and addresses project related impacts in a responsible manner. These `soft -work' elements include: -2-