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HEIT: Just to clarify, any long-term disposition for a lease on that property would be through <br /> public auction. So you would have to <br /> INOUYE: Okay now wait. Let's back up, okay? When the Bill 209 came out, I was eligible for <br /> a lease extension. Now when that came out, you all came up with a bunch of studies that <br /> allowed my lease to run out. They gave me an extension. Not only that, I went in front of the <br /> board when you gave me my month-to-month revocable permit. <br /> TANIGUCHI: The Land Board? <br /> INOUYE: And I talked to the Board. And we discussed this, because they wanted me to tear the <br /> building down if I stayed there longer. The Board said that's, that's stupid. Who wrote this? No <br /> one answered. But anyway, it ended up I don't have to tear the building down, I get to stay there <br /> month-to-month on the revocable, but I get to own the improvements that are on the property. <br /> Now how in the world could I be owning the improvements on the property on a month-to- <br /> month, and operating like I do? I said how in the world I'm going to be doing any improvements <br /> that I'm doing as I go along because I know there's a lots of things; I've been doing it for years. <br /> I've spent over a million dollars in maintenance fees and things that we had to do and we have to <br /> upgrade that building. And we're still in making improvements all the time. And that comes off <br /> of the revenue that we get, that we earn. And I feel that because we're in the situation we're in, <br /> that we should be eligible for a lease extension because the last bill that was passed said that the <br /> Land Board can do anything. And if I can get the sympathy of the Land Board maybe I'll get my <br /> lease extension. <br /> HEIT: Well, I wish the Land Board could do anything. It'd make my job a lot easier. <br /> INOUYE: Well, come on. You know we can go back now <br /> HEIT: Unfortunately we are constrained to statutory limitations <br /> INOUYE: I beg your pardon? <br /> HEIT: We are limited by the statutes. This Act, the new Act 149 that was recently passed, is for <br /> existing leases. <br /> INOUYE: Okay, let's look at this. Limited by the statutes, but the Land Board can do anything, <br /> right? <br /> HEIT: Within statutes, yes. <br /> INOUYE: Well, I mean it said that they could, they said that could <br /> HEIT: Within the law; we cannot just do any, the Land Board can't do anything. <br /> INOUYE: According to the new bill that went out, it gave the Land Board authorization to go <br /> back and make any changes or anything they wanted to do. And now, what I'm referring to is <br /> number one, when, when DLNR approved Hilo Hawaiian for their improvement concept for <br /> their lease, there was also a letter made approving concept for Reed's Bay, but it wasn't signed. <br /> Page 16 of 19 <br /> Banyan Drive Hawaii Redevelopment Agency <br /> September 24,2018 Minutes <br />