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aerial photo of the project site as outlined with the black line, and up to the top of the map, you’ll <br />see the existing Waikoloa Village. <br /> <br />The applicant is requesting an amendment to Condition B in which to secure final subdivision <br />approval. The current ordinance provides that the applicant secure final subdivision approval for <br />the proposed 400-lot subdivision by September 20, 2012. The applicant is requesting that the -. <br />And that is the existing Condition B and I’m not going to read it to you verbatim, but I just wanted <br />to indicate to you that aside from a deadline to secure final subdivision approval by September 20, <br />2012, there was additional language toward the bottom of the condition where it talks about <br />constructing and dedicating the intersection improvements required by this particular ordinance, <br />which is further specified within the subsequent Condition C, talks about the possibility of <br />providing, entering into an agreement and bonding up the improvements meeting with the approval <br />of the Director, and confirming that no occupancy permit for any lot within the property shall be <br />secured until such time those improvements are provided or, let’s see, “until all of the infrastructure <br />improvements covered by the bond or surety have been constructed and approved by the County.” <br />So Condition B as shown here will be synthesized as proposed by the applicant and to the version <br />you have up on the screen, which is basically asking for an additional five years in which to <br />complete or secure final subdivision approval for the first phase of the project consisting of no less <br />than 50 lots, and additional, I’m sorry, and ten years by which to complete construction of the entire <br />400-lot subdivision development. The applicant states that the reason for the request is due to the <br />current market conditions that prevented them from completing the subdivision by their September <br />20, 2012, deadline as stipulated by the existing change of zone ordinance. The applicant is <br />proposing for the subdivision to proceed in eight separate phases with the first phase, again, to be <br />completed within five years and consisting of no less than 50 lots, with the remain of the project <br />within a ten-year time frame. <br /> <br />This is a concept of the subdivision layout that was originally provided by the applicant in his <br />request. I should note that we have just distributed to you an amended subdivision layout, which <br />shows the more current version of the proposed subdivision, and more specifically you will note <br />that there are two highlighted areas, which is basically depicting two specific access points for the <br />proposed subdivision onto Waikoloa Road. And if I can use my laser pointer. The existing access <br />is, well, not existing, the proposed access for the initial phase is being shown here, and on the <br />revised map it will show a new, or an additional access point in this proximity here. This is a view <br />of the project site from Waikoloa Road. This is looking makai along Waikoloa Road with the <br />project site off to your left in this location here. Again, this is looking makai once again and this is <br />the access point into Waikoloa Stables. This is looking makai and the intersection of Waikoloa <br />Road is located in this proximity here. <br /> <br />The Planning Director is recommending favorable consideration of this request for an extension of <br />time. Let’s see -. With that, we also provided you with another addendum, or supplement, to the <br />Director’s recommendation, and it’s on a single sheet of paper identified as “Item No. 2, Waikoloa <br />Mauka, LLC, Amendment to Condition B, Change of Zone Ordinance No. 07-127.” The proposed <br />amendment is specifically highlighted in yellow and underscored. And what the amendment for is <br />simply to clarify that the roundabout at the intersection of Waikoloa Road and Pua Melia Road must <br />be provided in conjunction with final subdivision approval of the first phase of the development; so <br />we just wanted to make the provision explicitly clear. The proposed amendment that’s highlighted <br />in yellow reads, “This roundabout system, including the”; Public Works is asking that a minor <br />tweak to the language be provided, which will now read, “this roundabout system and the first <br />channelized intersection improvements” and so forth and so on. We have no objection to the <br />2 <br />EXHIBIT B <br /> <br />