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Aug 08 1212:52p Rick Oliver 18088811002 1 <br />William P. Kenai (1) Meyor <br />County of Hawaii <br />DEPARTMENT OF FINANCE - REAL PROPERTY TAX <br />Aapuni Cenler • 101 Pwahl Street • Swle No 4 Hilo, Hawaii 96770 • Fae(80a)961-8415 <br />Appreissrs(B0B)961-6354 • Cleocal(808)961-8201 • Colkvions(BOB) 9614282 <br />West Hawn'ICM.Center • 745044 Ane Keoho"Iulc Hwy • Shis D,2nd Fh. • Kdlua Kwu. Hewu•, 96740 <br />F.(909)327-3531 • AWainn(908) 3234881 • Clencal(009) 323.4880 <br />August a, 2012 <br />BICC Properties LLC <br />101 Hodencamp Rd., STE 200 <br />Thousand Oaks, CA 91360 <br />Re: TMK's (3) 7-1-007-001 to 7-1-007-043 and 7-1-008.001 to 7-1-008-010 <br />Dear Mr. Sllagi, <br />Nancy E. Crawford <br />Fimnce Dnccmr <br />Deanna S Sako <br />Deputy Director <br />While the 53 parcels are legally finalized the subdivision is basically a'paper subdivision' with no <br />infrastructure outside of dirt roads and dependent an the viability of the adjoining golf course for marketing <br />in 3 to 5 years. Based on the costs to cure the infrastructure deficiencies and holding costs presented to <br />us we are proposing to discount these parcels proportionately downward by just under 5.5 million in value. <br />If you accept this settlement offer, I would ask you or your agent to sign the enclosed copy of this letter and <br />return it to me as soon as possible. It will be presented to the Board for approval. If you have any questions <br />at this time, feel free to contact me by mail, or telephone at (808) 961-6286 <br />A. <br />I agree with the settlement amounts as follows and understand that based on this settlement my appeal <br />fees will not be refunded: <br />TMK <br />Land <br />7-1-007-001-0000 <br />56,200 <br />7-1-DO7-002-0000 <br />46, 600 <br />7 -1 -DC7 -003-0000 <br />41,200 <br />7-1-007-004-0000 <br />38,600 <br />7 -1 -0D7 -005 -ROOD <br />38,600 <br />7-1-007-006-0000 <br />39,600 <br />7-1-OD7-007-0000 <br />38,601) <br />7-1-007-008-0001) <br />40,200 <br />7-1-007-009-0000 <br />39,300 <br />7.1-007-010-0000 <br />40,100 <br />Plmval'i County i5 an Equal Opporlvnily Provider and Employer <br />