2012-12-13 Leeward Exh A - RS10 Kalaoa

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MCCOMAS: But as far as that I think he has covered pretty much, you know, what our intent is at this point. GIFFIN: Commissioners, let’s start this way then. Do you have any questions of the applicant? I do. MCCOMAS: Okay. GIFFIN: In terms of the time, you know, your time, block of time that you are asking for, what is still specifically needed to be done? MCCOMAS: Well, we fina-, we have all of the plans, I think, that were completed; the only thing that’s holding us at this point would be, again as we had stated, you know, because of the way the economy is, you know, we are just hoping that the economy improves within the next five years so that it becomes feasible for us to move forward on this. We are committed to do it; however, at this time I think, you know, it’s just, it’s not feasible for us. GIFFIN: I’m looking at your letter that you sent to the Director, dated October 12, 2012, and in that you speak to all of the various conditions and the status of what has been done -. MCCOMAS: Right. GIFFIN: In terms, and I understand the economic situation, what level, what tipping point are you looking for in terms of the economy to be better to begin actually selling your lots? MCCOMAS: Well, I guess, you know, just kind of see within the next five years or sooner that the economy starts to pick up where, you know, the market becomes more active and to kind of offset the balance with the expenses, you know, that I guess will be incurred for the subdivision. GIFFIN: In your previous section, the increment that is already sold, what were you selling the lots for? MCCOMAS: I think it was averaged -. ASHIKAWA: The average went to $250,000. GIFFIN: Per lot. ASHIKAWA: Yes. GIFFIN: And they averaged in size? MCCOMAS: They were all about 10,000 square feet -. ASHIKAWA: Approximately 10,000 square feet. GIFFIN: Okay. Commissioners, any other questions of the applicant? If not, at this point – thank you very much – there is a person -. Oh, I’m sorry -. 4 EXHIBIT A