HomeMy WebLinkAboutCOM 0687.093 2004-2006 L Y N C H
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July 6, 2006 i> ~
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Council Chairman Stacy Higa - rn
Hawaii County Council
County of Hawaii `r.,- -c~
75 Aupuni St. i. ~
Hilo, HI 96720 ,v
RE: Contribution of Land for portion of New Mauka/Makai Roadway F-'
Within TMK (3) 7-2-6:009
Dear Chairman Higa:
Thank you for your letter dated June 30, 2006 regarding the mauka/makai roadway
through our property and your additional request for the estimated land value of the subject road
right of way ("ROW"). The ROW is approximately 8,000 feet long and covers an estimated 23.5
acres of land, including the 88-foot wide roadway section plus required slope areas. We
estimate the value to be $705,000 or approximately $30,000 per acre.
We understand that any changes in land uses for our future development cannot be
guarantied by the County and may require State Land Use Boundary amendments and County
rezoning in accordance with State laws and County ordinances. We fully intend to comply with
such requirements should we seek any changes for future development. We further understand
from your letter that the County cannot make any present commitment to us relating to future
credits, and we appreciate that our dedication of the ROW land will be noted in the public record
for due consideration.
We are happy to be part of this regional plan for a roadway network for the benefit the
County and its residents.
Aloha,
Wai 'O Makalei, LLC
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793
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`~.~~~!~r - fy-_ Comm. No
--Ref. To•*t
Peter Lynch, Manager R~• Uote
Lynch Investments, LLC I Lynch Real Estate Services, Inc. Lynch Asset Services, Inc. i lynch Development Services, Inc.
505 Sansome Street, Suite 1450, San Francisco, CA 94111 Phone: 415.364.3601 Fax: 415.362.9343 www.lynchinvesfinents.com