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extension and sort of had an approval in concept, but it was only a draft. I mean we all know
<br /> that that's the procedure. You have to get an approval in concept and then actually get into the
<br /> actual negotiation of your leases. Now, it has all these years that they've been going through
<br /> this, you know, I feel kind of, wow, you know, I'm the only one left now on Banyan Drive trying
<br /> to get a lease. Which could probably qualify for a lease, but I'm not going to be able to get a
<br /> renegotiated lease because time has run out. Now, why has time run out? Well, Department of
<br /> Land and Natural Resources, because all three leases were going to run out at the same time,
<br /> chose to have a bunch of studies made; they had five of them. These delayed everything. Then
<br /> we got into the business of a redevelopment area. It [phone rings] sorry oversight
<br /> redevelopment of Banyan Drive by the Hawaii Redevelopment Agency and everything has
<br /> delayed. The only thing that I see positive now in the new bill is that maybe with all the
<br /> investments that my corporation has done, and since I took over the operation in year 2003,
<br /> maybe we'll get some remuneration out of it. The only remuneration I see in the new bill, it does
<br /> state, and I don't know if it's going apply to our corporation or not, but it does state that it could,
<br /> the improvements could be paid by a new lessee if I lose the lease on a bid auction; when it
<br /> comes out for an auction. Cause I am going to bid on it, and I'm going to put in over two million
<br /> dollars' worth of improve . Follow the architectural plans that were brought out by the fifth
<br /> study that the Department of Land and Natural Resource I understand they have another one
<br /> going on now. I haven't seen the results of it. Okay. My building, I did a structural study by a
<br /> firm, which is the same firm gonna do the one on this last study that they're going after and it
<br /> said that the structural strength of Reed's Bay is very, very good. Because it has up to twelve
<br /> inch girders throughout the building, concrete floors and everything. It just needs to be brought
<br /> up to date; the electrical, plumbing, or anything else that needs to be brought up, especially the
<br /> ADA. And that's why we're over a two million dollar deal. And if anyone can offer me any
<br /> consolation, or way to go on this, or whatever, I'd appreciate it. Thank you.
<br /> DELIMA: Okay, thank you. Thank you.
<br /> BUSINESS OF AGENCY
<br /> 1. Update from Planning regarding 2017 legislation that involves or pertains to properties within the
<br /> Banyan Drive redevelopment area.
<br /> DELIMA: Okay, we'll move on to updates from the Planning Department regarding the 2017
<br /> legislation that involves or pertains to properties within the Banyan Drive redevelopment area.
<br /> MEAD: Alright, good morning. Again, so today we're just offering the agenda items are just
<br /> updates from the Planning Department regarding some of the actions that have taken place
<br /> within the redevelopment area. So we don't have actions for the Board, necessarily, but these
<br /> are again just updates on what has been going on within the redevelopment area lately.
<br /> We reviewed, several times, some of the legislation from the 2017 legislative session. We did
<br /> get the—Governor did put an intent to veto on the outcome, or the amended version of House
<br /> Bill 575, however he did let that go into law as Act 215 a couple weeks ago, on the 12th, without
<br /> his signature. So there's, there were concerns stated from the Governor on the bill, but it did go
<br /> through and has become law. It does pertain toinitially it had a lot more pertinence to some of
<br /> the properties on Banyan Drive, however, the amended version that was passed pertains to
<br /> commercial and industrial leases of State lands. Again, it amends Chapter 171 and allows those
<br /> with some life left on their leases to request interest in a re-lease and negotiation. So again, as
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<br /> Banyan Drive Hawaii Redevelopment Agency
<br /> July 26,2017 Minutes
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