HomeMy WebLinkAboutCOM 0687.073 2004-2006
Island Advisors ]nc. 5/11/2006
Palamanui Project Rezoning Application
Draft Agreement re Dept of Education "Fair Share" Condition of LUC D & O.
The attached draft includes a provision that, if for various reasons, the intended 8,000
square foot building is not provided as requested by DOE, the funds contributed by
Hiluhilu will remain in a DOE trust account designated for the property and reserved for
use in the existing school complex in North Kona. See Paragraph 2c of the attached
draft.
This provision should insure that either the facility or funds will be dedicated to the North
Kona public school system.
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05!1012006 09:10 AM bcc
Subject S•1p-066raft
To review, next step for us Is getting your verbal agreement on the concerns, tllea we send a final draft to
our Deputy Attorney General for approval and back to you for signatures.
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Palemaraii ant &i0 06.DOC
i Heidi Meeker-treidi_meeker(Anotes.kl2.hi.us
Planning SeCtlon
j pepartmern of EducationlFacitides pevelopment Branch
$09 Stl1 Avenue (Littotiho Elam-)
Honolulu, Ht 96816
$ Pb.80A-733-4862 Fx A08-733-4866
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F,ducatiottal Contribution Agxeemeot for
PALAMANiTi
THIS INUGNT'URF,, made this clay of by
atul between HILUHIitJ L7EV1sLOPMEN't', LI..C, whose principal place of business and j
mailing address (if different) are
and the State of Flawai'i
i DF,PAItTMCN-1' OF EllUCATIUN, hemitwtiex relim~cd to as "DOI;,' vs4lose mailing '
address is (]apartment of Gdueatian, Facilities Development 13raneh, 809 8`" Avenue,
f Honoiuly, Hawaii 96816.
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WHf?REAS II(Ll3Ii1LU DEYEI.UPMF,'NT, I.LC is the rIeveloper' and recorded
ouaer oPthat certain panel of lama wmprised of approximately 725 accts and identified
as Tax Map hey paree17-2-5:1, also known as "i'ALAMANETI";
WH)sRt3AS PALAMANUI is anticipated to contain a total oC930 units in the
cmin: project;
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td'NtiREA5 PALAivtANU[ is anticipaled,to include permanent residents in
:y approximately sixty-nine percent (69%) of its single family h6mcs and one hundred
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~ pen:ent (i QO%) of its muhl-family homes, cxthi~ling atty ago-restricted units;
~Y1tERliAS H1ZUHILU DEVELOPMliNT, LLC and DUp have tnutuaily ag*rced
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that the educational contribution set forth in this Agreement will satisfy ail DOF fair-
e share rccluirernenis for P-ALAMANUi, bases( on a maximum x£407 single family and I7S
multi-family residential units;
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PiOW THFILRFORE, H1LUHiLL! DI;VRI.OPMF,i4'f, i,LG and DOF, agree a5
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1. IItLUFUI tJ DFVELOPMI=~1'1' I LL's School lair-Share C:onmbntion. €
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IIII.t1HU,T,i DEVSLUPMIiNT, LLC shall usnuibute io the DOE !hc use of an
B,QUU square foot huildinl; within PALAMANUI for a period oCtwenty (2U) years,
according to tlse following conditions:
a. Nv rent or common area maintenance tees will be charged w Ehq DOF.,
b. The building will be used as instructignal and oiTice space €or irte schogi
complexes located in Wcst Ilawaii,
e. "the buildin; wit? meet DOE facility standards, with finisLed elass+znams,
wgrkshops and offices,
d. IIf1,ti1-IU.LI D);VELOPML?NT will collabvratc with the 170E on the
rcyuit"emcttts of the building in order m devcigp building plans subject to
DOS apprcwal,
e. The buildiug wilt be a-vaitablc to the DOE within one year of the isswmcc
of the Srst msidential building permit for PALAIvI.ANUI,
f: koltowitto Use twenty year period when the buildine wits be made available
? to the DOL+, the building will be made available to DOE for additional
years, at the prevaifittg rental sates.
g. In the event that DC1G or H1LLnIlL(I t)EVtSLOFMGNT detersntne that
despite g<xsd eflims, a building catnsot be provided, or DOE. no ignger
needs the facility and its design has nut been completed, H1LU~iU.U
DL'VF.LUPMEN'f will make a school fair-share cash contribution as
outlined in Section Z. vfthis agreement.
2. IIII t'HII tJ UlVFLOPMENT i,LC's Altentativs C;as6 Contribuiign. if the DOF
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- and H1LUI'11LU DRVL-;LOPMIiNT LLC determine that the contribution outlined
in Section 1. of this agreement caws no longer by met, NlLliH1LU
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ntVEi.t1PN1EN'i' LI.C shaft contribute a total of TWU MII.LIUN 5lX
ITLINUI2F.D 'fiUR"1'Y THR1E THOLISAN.t7 AND TWO HtJNt~RID TWL""N'i Y
- 'fW0 DOLi,ARS ($2,633,222) to DUB.
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a. Fhe i.ash Gonh•ibution shall he paid out of Escrow and mad. payable tc
rho "State of Ilawai'i; t3epartment ofl;ducation" in aeeorciance with the
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following schedule:
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a
i. give thousand Five Hundred Thirty Four llollars and fitly Cents
05,535.50) payable within thirty (30) nays of`the casing and recordation `
afeach single family lot ar unit within the project.
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3 ii. 1'wo Thousand One Efundred Seventy Five Dollars ($2,I7S.00}
payable within thirty (30} days of the closing and tcwrdation ai.' each
_ multi-fe;nily unit within the project.
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b. Au escalation factor shrill be applied to the balance at' the Cash
Contribution that remains to be paid every thirty-sir (36) months after the
date of this sig!ted agreement. The escalation factor shall be based on the
Over-the-Rear Percent Chattb~e in the Anntud Avetttgc t-Ionolutu Area
Consumer Yricc Indox t'nr Ail items for At) Urban Consumers (CP3-U)
issued by the Bureau of Labor Statistics of the Uni!ed States I~cpartment
of Labor. The Annual Average CYI-Ll for the year print to the year the
~ agreement is atistted is used as the base year. Cash Contributions will be
adjusted 6y the amount the most recent Annual Average CVI_[1 has
increased ar decreaied over tt!e base year. - 1 v~
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c. Ca:oh Contributiont^~ sha3t be deposited in a DOS trust au:ount desigr!sted
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c~> for )rALAMA]'3UI and reserved far use within the L€eatakehe Cvropiex of ~
_ SG$OOIS.
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3. This Agreement shall Yx; binding upon t{II,I!HIL:II DEVEiLOPivIENT, I.LC, nr its
sttccessnr in interest.
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IN WITNL;SS WHlRk:Op, the pasties have executed and deliver;:d thss Agreement the
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day and year fir,t above written.
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HILUIIILU I7F.VELUPIv1LNT, LLC
(Name of Individual]
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DIPAR'1'MEN'f' OF 1;DUCA'I'IUN
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3 BY _ T)atc._
Name of Superiati"ndcntj
Its Superintendent
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STATI; OF HAWAII )
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~ CITY ANI7 Ct)LTNT`' C?F HUNULULU )
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~ On lhis day cf , before me personally appeared
Superintendent of the State of Ha~vai'i I3EPAR'IN[FNT
h Ul~ ETJUCATIUN, to me known to be the person described in and who executed the
~ foregoing ins4vment, and ackrntwledged that she executed the same as her free act and
decd.
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Notary Public, State of IIawai'i
My commission expiiY;s:^
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STA"fE01~ k1AWA1"I )
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5/10/O6 4
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Ct~UNTY OP ` )
. before me ersanaily a ared
(7n this J` day F PPe'
_ of HiLUHiLt3
DFVELOYNfJ;N'f, F:LC:, !o me tsnoWl~ to be [11C person described in and who executed
the fore~oina instrwnenl, aad acknowledged t2tnt he executed the same as his free act and
deed.
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Nvtary Public, State of EfawaFi
NIy cammisslon expires:___.^
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