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, ! AIL .n. <br /> .y <br /> Cooper & Cooper <br /> RFRI RTgTE fOLUT10NF~LC <br /> June 1, 2007 <br /> Chairman and Members of the Council <br /> County of Hawaii <br /> State of Hawaii <br /> Hilo, HI 96720 <br /> Re: Bill No., 51, and ordinance amending Chapter 27 of the Hawaii County <br /> Code 1983 (2005) pertaining t o Flood Control and Storm Water <br /> Management <br /> Aloha, <br /> I am Pete Cooper, immediate past president of the Hawaii Developers Council. We <br /> applaud the councils desire to reduce damage caused by flooding. However, due to <br /> the multiple and varied amendments to the proposed bill, we strongly recommend <br /> this Bill not be passed until community groups have had adequate time to review <br /> this bill for unintended consequences. <br /> Examples of unintended consequences include the following: <br /> Bank of Hawaii (Vince Barnfield -Vice President) sent me an email earlier this <br /> week indicating that should this bill be passed, they anticipate that over <br /> $250,000,000.00 in current loans (development and agriculture) would become <br /> exposed to defaults in this county due to this Bill transforming lots currently used as <br /> collateral into nonconforming lots, in regards to grades and storm water retention. <br /> We anticipate this bill will not only cause farmers to default on land loans, but also <br /> Comm. No. <br /> to fail in their business. Ref. To: ~~.ran • <br /> Ref. Date _ _NIN 13007 <br /> We are concerned that the current property tax structure will need to be completely <br /> amended to recognize the difference between fully zoned property that realistically <br /> can be farmed or developed, and fully zoned property that, due to the impact of this <br /> <br /> HONOLULU OFFICE:1124 Fort Street Mall .Suite 204 • Honolulu, Hawaii 98813.0 808-587-8020 C 808.398.4782 • e-mail: PeteCooper@cooperandcooper.biz <br /> <br />