HomeMy WebLinkAboutCOM 0477.001 1984-1988April 23, 1986
v//Mr. Stephen Yamashiro
Chairman, County Council
County of Hawaii
25 Aupuni Street
Hilo, HI 96720
Mr. Takashi Domingo
Committee Chairman
Planning Committee
County of Hawaii
County Council
25 Aupuni Street
Hilo, HI 96720
Subject: Ainakea Residential Subdivision, Bill No. 154
Dear Messrs. Yamashiro and Domingo:
Oceanic Properties Inc.
Hawi, Hawaii 96719
Telephone (808) 889-6257
For your information, I have enclosed a copy of a letter sent to
Mr. Scott Leithead regarding our understanding of the required
housing condition for our proposed Ainakea Residential Subdivision
(Bill No. 154).
If you have any questions, please feel free to call me in Kohala at
889-6257.
Very truly yours,
OCEANIC PROPERTIES, INC.
�;same R. Steinwascher
Project Manager - Kohala
Encl.
Comm. Na 4/77,/
File No.— z1V41k1-1
Ref. To. FC If
APR
Ref. Date,. , 2 10 9g�. .
April 14, 1986
Mr. Scott Leithead
County of Hawaii
Office of Housing and
Community Development
50 Wailuku Drive
Hilo, HI 96720
Subject: Ainakea Residential Subdivision (Bill No. 154
Dear Scott:
Oceanic Properties Inc.
Hawi, Hawaii 96719
Telephone (808) 889-6257
This letter is written to confirm both the conversation and decisions
reached at the meeting of April 8, 1986 between you, Bill Moore and
myself regarding the Ainakea Subdivision.
Oceanic Properties has agreed to offer for sale 10% of the single family
improved lots developed in the Ainakea Residential Subdivision on a
"preferential basis" to either the Hawaii County Housing Agency (County
of Hawaii), the Hawaii Housing Authority, or directly to the public.
The lots will be built according to specifications and offered for sale
at prices that would enable such purchasers to qualify and obtain State
and County financing (e.g. Act 105) or Federally assisted financing
(e.g. FmHA) intended to encourage home ownership by low and moderate
income families. These lots will be among those developed by Oceanic
Properties within the boundaries of the Ainakea Subdivision. However,
if both the County of Hawaii and Oceanic Properties agree, these lots
may be developed in a site outside the boundaries of the Ainakea
Subdivision.
We also discussed that Oceanic Properties may dedicate to the County of
Hawaii the 5.47 -acre site, proposed under tie Ainakcu Residential
Subdivision for RM -4 zoning, as an elderly housing site. This dedication
of land would not be as a condition of this rezoning application but
rather a unilateral decision made by Oceanic Properties. The dedication
of this elderly housing site would occur after the property has been
properly zoned and a lot subdivided.
You estimated that Oceanic Properties would receive between $15,000 to
$25,000 for 10,000 square foot single family lots sold on this
"preferential basis," depending upon the house construction and financing
programs that would be available. We also discussed and agreed that we
would not have to make a decision on whether these 10% preferential lots
would be clustered within one portion of the subdivision or spread
throughout the subdivision. This item can be mutually agreed to at a
later date once you have a specific program. It was confirmed that the
Mr. Scott Leithead
County of Hawaii
Office of Housing and
Community Development
50 Wailuku Drive
Hilo, HI 96720
Page 2
definition of a single family improved lot is such a lot with all of
the appropriate utilities and roads fronting the lot.
For your records, I have estimated our approximate costs for this
housing condition and the donation of 5.47 acres as an elderly housing
site. Assuming 10% of the total residential lots in the subdivision
amounts to twelve (12) lots and Oceanic only receives $15,000 per lot,
our contribution at a market price of $30,000 per lot is $240,000.00.
For the 5.47 -acre RM -4 zoned elderly site with a market value of 80Q
per square foot our contribution is worth $190,619.00.
Vie adjourned this meeting with the agreement that I will confirm
Oceanic's desire to contribute the 5.47 -acre elderly site as well as
the 10% "preferential" condition and that your office will redraft the
Condition No. C of Rezoning Application in Bill No. 154 to take into
consideration this revised housing condition. You have also agreed to
assist in expediting this rezoning application through the County
Council and administration.
If you have any questions with the above, please feel free to call me
in Kohala at 889-6257. I look forward to reviewing the redrafted
Condition No. C of the Rezoning Application in Bill No. 154 and will
be glad to meet you in Hilo or Honolulu at the earliest possible time.
Very truly yours,
OCEANIC PROPERTIES, INC.
James Steinwascher
Project Manager - Kohala
xc: Councilman Kalani Schutte