2024-05-28 PL-BOA-2024-000105 Petition (1250)_v1

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plan to address concerns expressed by the community, ultimately proposing a lower-density, agriculturally-focused development that eliminated the members' lodge. As part of its revised master plan, 1250 Partners committed to providing significant public improvements and community benefits. These community benefits included, inter alia, the development of an approximately 140-acre shoreline park(the "Shoreline Park"), the expansion of the County's Kona Scenic Park, and the construction and dedication of an approximately five-mile segment of the Bypass Extension. 1250 Partners submitted the necessary entitlement applications to the County to implement the revised master plan consisting of 730 agricultural lots, which culminated with the adoption of the Ordinances — Ordinance No. 96-7 covers Hokulia's western/makai lands, and Ordinance No. 96-8 covers Hokulia's eastern/mauka lands. Following adoption of the Ordinances, 1250 Partners secured numerous other entitlement for Hokuli`a and entered into the Development Agreement. The development of Hokuli`a is divided into three general phases—Phase I, Phase II, and Phase III, with Phase III further divided into three sub-phases —Phase III North, Phase III South, and Phase III East. Shortly after the Ordinances were adopted, 1250 Partners submitted construction plans to the County for subdivision infrastructure improvements for Phase I, including the Makai Haleki`i Extension and Connector Roadway. The Makai Haleki`i Extension and Connector Roadway were constructed in 1999, pursuant to construction plans approved by the County, including DPW. B. Oceanside Takes Over Development of Hokuli`a. In late 2007, 1250 Partners defaulted on its loan and control over Hokuli`a reverted to its lender. During this time, development activities were halted and could only proceed with lender authorization and funding. 4860-3160-4157.3.051730- 00058 5