2016-05-19 Leeward Exh D (SPP 16-188)

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to give us a preview what this was going to be like when they briefly did some crushing last year, we got to experience the obnoxious noise and the tremors that actually sent to our house. I can testify that their work causes real problems as far as the quality of living. Please do not allow this industrial operation to happen so close to our residential neighborhood. I was amazed as the images were put up during the other cases how much of the land here is zoned Agricultural, and when they showed the aerial shots, how many buildings and different things you can do on Agricultural land. I assume that’s done for tax purposes. But we are residential, and I think that that should buy us some additional protection. Thank you. ROBERTO: My name is Manuel Roberto. I live in Pualani Estates Unit 105, and I respectfully would like to submit a few numbers for your information that you may want to think about. These are approximate numbers; you may want to find the real numbers yourselves, or perhaps some of the real estate agents in the audience will be able to provide that for you. So these are approximate numbers. But I’m in the investment business. I consider this property as an investment. So we’ve got to look at some facts, which are important. Pualani Estates basically is a community for about 300-plus units, somewhere around 380, I believe. The property value, total property value of Pualani Estates is somewhere between 250 and 300 million dollars. I suppose that the property tax revenue to the County is, based on my own property taxes, I expect that the County is collecting somewhere around half a million dollars right now, 500,000 dollars. All investments require time. Let’s move forward ten years. Ten years from now — Pualani Estates currently is appreciating at a rate of five percent, more or less; real estate appreciates about that rate, especially good properties, good investments always appreciate with time. Time is very important; it’s an important requirement, as you all know. So, going forward ten years at around five percent appreciation our 300 million dollars value is going to be somewhere around 450 million. Property taxes are based on appreciation of property; property taxes don’t go up, if the property doesn’t appreciate, obviously. So that property tax revenue will go up to 750,000 or more, ten years from now, a year, a year. Twenty years from now the property values will be around 500 million dollars and the property tax revenue should be around 1.2 million dollars. Just a reality check. If you put an industrial area next to a residential area, I mean there are no residential areas that appreciate like that next to industrial areas; it just doesn’t happen. So here we are about to bring down the five percent to one percent appreciation or no appreciation or negative appreciation, I don’t know, it’s uncertain, and markets don’t like uncertainty. So, anyway, who is bound to lose here? The property owners, we may lose between 100 and 150 million dollars ten years from now, and the County, of course, in property tax revenues. Thank you. UNGER: Thank you. REESE: My name is Wayne Reese. I live at 75-6087 Ka‘ane‘e Street. We are immediately south of the vacant land that, where Bolton will be doing their rock crushing. It’s going to have a negative impact on the noise, the quality of life and the property values. I retired after moving to Hawai‘i, after leaving Iraq as a military advisor, you know, so it’s a great place to live. But, again, it’s going to have a negative impact on the noise, on the air quality, perhaps vibrations, just overall quality of life, and property values. So obviously, I’m not in favor of it, and I urge the Planning Commission to reject this proposal that they be allowed to do the rock crushing there. It’s not a good location for it. There are too many residential areas very close. And the 4 EXHIBIT D