[§514A-39.5] Contingent final public report. (a) Prior to the issuance of an effective date for a final public report, the developer may request that the commission issue an effective date for a contingent final public report. The contingent final public report shall be in the form and content as prescribed by the commission.
(b) No effective date shall be issued by the commission for a developer's contingent final public report unless there is submitted to the commission:
(1) Nonrefundable fees as provided in rules adopted by the director of commerce and consumer affairs pursuant to chapter 91;
(2) The proposed developer's contingent final public report;
(3) All documents, information, and other requirements under section 514A-37 if the commission has not issued an effective date for a preliminary public report;
(4) An executed and recorded option agreement, agreement of sale, deed, or master lease for the property;
(5) The executed and recorded declaration, bylaws, and floor plans as filed with the county officer having jurisdiction over the issuance of permits for the construction of buildings, as provided by sections 514A-12, 514A-20, and 514A-81;
(6) A verified statement showing all costs involved in completing the project, including land payments or lease payments, real property taxes, construction costs, architect, engineering, and attorneys' fees, financing costs, provisions for contingency, etc., which must be paid on or before the completion of construction of the project;
(7) A verified estimate of the time of completion of construction of the total project;
(8) An executed copy of the escrow agreement which complies with the requirements of section 514A-64.5 and, if purchaser's funds are to be used for construction, the requirements of sections 514A-40(a)(6) and 514A-67;
(9) A parking plan to include designated residence parking stalls and guest parking, if any, exclusive of assignment to individual apartments, if parking stalls are to be considered limited common elements; and
(10) A letter of interest in financing construction of the project from a lender authorized to do business in the State.
(c) No effective date shall be issued by the commission for a contingent final public report for a project that includes one or more existing structures being converted to condominium status unless there is filed with the commission all items required under subsection (b) and:
(1) A verified statement signed by an appropriate county official that the project is in compliance with all zoning and building ordinances and codes applicable to the project, and specifying, if applicable:
(A) Any variances which have been granted to achieve compliance; and
(B) Whether the project contains any legal nonconforming uses or structures as a result of the adoption or amendment of any ordinances or codes;
(2) A statement by the declarant, based upon a report prepared by an independent Hawaii registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the project; and
(3) A statement by the declarant of the expected useful life of each item reported on in paragraph (2) or a statement that no representations are made in that regard; provided that this paragraph and paragraph (2) apply only to apartments that may be occupied for residential use and have been in existence for five years or more.
(d) A contingent final public report shall expire nine months after the effective date of the report and, notwithstanding anything to the contrary in section 514A-43, may not be extended or renewed.
(e) A contingent final public report is subject to sections 514A-41 and 514A-63. [L 1997, c 135, pt of §2]
Note
Section 514A-81 referred to in subsection (b)(5) is repealed.
Section: Previous 514a-33 514a-34 514a-35 514a-36 514a-37 514a-38 514a-39 514a-39.5 514a-40 514a-41 514a-42 514a-43 514a-44 514a-45 514a-46 NextLast modified: October 27, 2016