HomeMy WebLinkAboutCOM 0675.640 2022-2024 p/PCPWO
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From: Brian McNeill
Sent: Tuesday, November 5, 2024 9:32 AM
To: Council Testimony
Subject: Proposed changes outlined in Bill 121 Y ?
cp.
8
Dear Members of the Hawaii County Council, C
I am writing to voice my opposition to the proposed limitations on Transient;
Accommodation Rentals (TARs) ownership structures as outlined in Bill 121.E
Specifically, the restriction to natural persons related by blood, adoption, marriage,
or civil union poses a significant threat to my ability to manage my property
effectively.
My property is owned through an LLC, which we established for legitimate business
and estate planning purposes. This structure has allowed us to manage the property
efficiently, share responsibilities, and plan for the future. The proposed amendment
would force us to dissolve this arrangement, incurring legal fees and creating
unnecessary complications.
The financial burden of restructuring ownership could be substantial. Additionally,
the uncertainty and instability this change introduces could negatively affect the
value of our property, making it more difficult to secure loans or attract future buyers
if we ever choose to sell.
I urge you to consider the unintended financial and logistical hardships this
amendment would impose on responsible property owners who utilize various
ownership structures for valid reasons.
Sincerely
Brian McNeill
Manager and owner of BDM Squared LLC
702-217-7008
Comm. 5
Ref. To:
1 Ref. G ie V — 8 2024