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overage. Instead, the developer is looking at 50 percent of that overage, and the rest will come to <br />the Department. That 50-50 split is a good number, he said. <br />Mr. Ken Kawahara of Akinaka & Associates introduced Mr. Aidan Barry of Kamakoa Partners, <br />LLC, and Mr. Del Green of Case, Lombardi & Pettit. He echoed the Manager -Chief Engineer's <br />belief that this project will be beneficial to all concerned, including the community. <br />Mr. Kawahara noted that the Agreement stipulates that DWS will receive upgraded and new <br />equipment, to replace equipment that is upwards of 30 years old. DWS will also get additional <br />capacity, with the increase in the pump size. In return, Kamakoa Partners will receive a 50 <br />percent share of the water units, and DWS will get 50 percent, he said. <br />Mr. Arikawa asked about Kamakoa Partners, LLC. <br />Mr. Kawahara said that Kamakoa Partners is the land owner. <br />Mr. Aidan Barry of Kamakoa Partners explained that his company is an entity that was formed <br />for the acquisition of the property immediately adjacent to the site in question today. The parent <br />company, The True Life Companies (TTLC), is based in the Bay area of California. TTLC forms <br />LLC's on each of the acquisitions that it is involved with. Therefore, Kamakoa Partners, LLC, is <br />a single -entity purpose, involved with this property immediately adjacent to the project site. <br />TTLC was founded around a decade ago, he said. <br />Mr. Arikawa asked if the company has any other projects in Hawaii. <br />Mr. Barry said no, this is the only project in Hawaii at this point. He explained that the company <br />is in six different markets in the western United States; it is a land developer. In this specific <br />case, the company is very familiar with the background of this property. The company is <br />working very closely with Messrs. Kawahara and Green, as a commitment in the spirit of how the <br />company does business: a transparency and a desire to establish the best local team in any of its <br />endeavors. The process that his team followed with DWS staff and Corporation Counsel is the <br />way his company does business, by working with the best team to come up with a win-win <br />situation. Mr. Barry said that he believes that this Agreement is a very good example of how a <br />public/private partnership can benefit both sides of the aisle. <br />Ms. Lee Loy asked what Kamakoa Partners' long-range development plans were for the water <br />units. <br />Mr. Barry said they were to be residential. <br />Ms. Lee Loy recalled that Mr. Tarnas earlier talked about filling a void as far as housing in the <br />area; she was curious as to what Kamakoa's long-range plans were. <br />Mr. Barry said his company had acquired the property two years ago. There was an existing <br />entitlement there that his company let lapse, because the company felt that the process that was <br />followed to attain that entitlement was not as transparent as his company wished. He said that <br />there are many concerns within the local community regarding the future of this property. <br />Kamakoa sees it as a residential development; Kamakoa plans to adhere to a very community <br />engagement -based process of outreach. This will be a residential development, he said. <br />Ms. Lee Loy asked about the density. <br />Mr. Barry said it would be premature to give much detail regarding the units; he gave a ballpark <br />figure of approximately 160 residential lots on this site. <br />Page 3 of 15 Water Board Minutes 4-28-15 js <br />