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Mr. Yada stated the extension granted regarding the County's Waipi`o offer will expire at <br />the end of April. The County offered around $900,000.00 for the property, but the <br />owners wanted at least $1.2 million. The owners are corresponding with other <br />organizations to see if they can make up the difference in the values. Mr. Flores stated <br />that certain packaging or tax incentives may be a way to make the purchase more <br />attractive to the owners. <br />Ms. Springer suggested that the progress of Waipi`o Valley be closely followed and <br />perhaps there should be a procedure established for properties that fall off the list. The <br />ranking of the property may change and this would affect its ranking on the list. <br />Ms. Self indicated that the Code specifies that the list must be updated by December 31st <br />of each year, but that the list can be updated at any time. If the property becomes <br />unavailable it can be deleted from the list. The new list could be sent to the Mayor with a <br />cover letter indicating that the listing has been updated and the reasons for the deletion. <br />Mr. Yada said that the Commission should be aware that Councilperson Ford's office is <br />working on amendments to the ordinance. Some considerations were sent to Finance for <br />comments, but it is not known what the amendments will be. One consideration was to <br />create a grant program out of the fund. There may be problems with having a grant <br />program and an acquisition program running at the same time. The State Legacy Land <br />Fund operates as a grant program. Our program and possibly Kauai is a direct acquisition <br />fund. The intent of the changes may be to facilitate funding from different sources. It <br />will not facilitate a quick acquisition program. One issue to the proposal was that the <br />appraiser be an MAI. An MAI is a certification program for appraisers that are pretty <br />rigorous and educational. An MAI would be more expensive. All federal acquisitions <br />are done by a yellow -book appraiser, perhaps a certain format or training program that <br />the federal government requires of the appraisers. <br />Mr. Yada suggested that as properties are nominated for acquisition that the information <br />should be forwarded to him and he will utilize the GIS program to prepare a graphic <br />presentation for the Commission. <br />Mr. Kaneshiro expressed concern with the high cost of property in Hawaii that the <br />acquisition of parcels may become more difficult. <br />Mr. Yada said it would depend on the owner. In the case of Kawa`a, the owners were <br />willing to sell the property for what they bought it for. It will depend on the owner and <br />what their situation is. Currently the values of land are dropping and there will always be <br />market changes. <br />OFFICE OF THE CORPORATION COUNSEL'S REPORT <br />Ms. Self said she would track the progress of the draft Bill for the amendments to the 2% <br />Ordinance. When the bill comes before the Finance Committee for consideration, she <br />will report to the commissions the findings of the Council. <br />