HomeMy WebLinkAboutCOM 0493.029 2000-2002
6-t7-02: 4:37PM; CARES SCHVTTE KONA ;808 326 tt75 # 2i 5
CA®ES SCti~1`TT'E FLEMING ~ WR~CJHT'
A LIMITED LIADI LITY LAW COMrANY
Kailua-Kona, Hawaii Office .Suite B-303 . Hualalai Cent~t~ 7~-1 ~,O k~u )ai Road .Kailua-Kona, Hawaii 96740.1737
Tel (808) 329.5811 . Fax (808) 32b-1175 . www.cades.com ll t • it ~ ~ .1, ~ 'r'' ( 1
Roy A. Vltoaflsek III • (808) 329-5811 • Direct Fax (808) 326-I 1 E-mail rvitausek@cades.com
June 17, 2002
Bobby Jean Leithead-Todd
Chair, Planning Committee
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Kohanaiki Property
Dear Ms. Leithead-Todd:
The purpose of this letter is to provide information which you and members of your
committee requested during the public meeting held on February 20, 2002. You will recall that I
testified at the meeting on behalf of owners of the Kohanaiki parcel in North Kona (TMK: (3) 7-
3-09: Sand 16).
I a1n enclosing a map of the Kohanaiki property which shows the relative locations of
anchialine ponds, known archaeological sites, the coastal strand, and the area proposed for
designation in the Planning I?epartmenYs proposed revisions to the General Plan. A rough
estimate of the amount of land in the "open" designation would be 200 acres. I am also
enclosing a copy of a snap which shows the zoning districts currently in place on the subject r
property pursuant to Ordinance 88-159.
Nansay Hawaii, Inc. purchased this property in 1984 for approximately $46.5 million. At
the time the property was purchased, it was in its current General Plan designation, State land use
classification, and zoning.
Since 1990, Nansay and its lender, Kennedy-Wilson International, have spent
approximately $13.5 million in planning, development, property taxes, and property
maintenance.
While it is difficult to estimate the potential lost value of the property under the current
circumstances, our rough estimate of the decrease in value of the property resulting from the
proposed redesignation is between $20-30 million.
Conlon. Nab
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6-t7-02; 4:37PM; CADES SCHUTTE KONA ;808 326 1175 # 3/ S
Bobby Jean Leithead-'Todd
June 17, 2002
Page 2
The owners of the property sincerely believe that it is feasible to preserve potentially
significant coastal environments and allow public access without significantly diminishing the
value of the property. In other words, any appropriate public purpose can be accomplished i
without effecting taking of private property.
It is our understanding that a site visit has been scheduled for June 20, 2002. I have been
asked by my client to participate in this site visit.
As always, if you have questions or require additional information, please call me.
~7' ~Y Yours,
It A. Vitousek IlI
for
CADES SCkIUTTE FLEMING & WRIGI€T
A Limited Liability Law Company
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