WAILUKU - Mayor Alan Arakawa announced that the county's purchase of 148.409 acres at Launiupoko was recorded Feb. 24. The sale was completed after an agreement was reached with the seller, Makila Land Co. LLC, and approved by the County Council late last year (Council Resolution #13-151).
The purchase price of $9.9 million is being paid with $6.5 million from the Open Space Fund and the balance with General Obligation Bonds.
The parcel is identified as Lot 7 of the Launiupoko (Large-Lot) Subdivision, TMK: (2) 4-7-001-030.
This lot is the first of two being acquired by the county for a total purchase price of $13 million.
"This land acquisition is extremely important in that it sends a message to future generations on the importance of preserving open space," said Mayor Arakawa.
"I'm grateful that the purchase was approved in the nick of time, and that our community can now benefit from having this land remain undeveloped in perpetuity."
The second acquisition, Lot 12 of the Makila Ranches Subdivision-Phase 2, is 37.731 acres at a cost of $3.1 million, pending final subdivision approval. Lot 12 is set for escrow closing by March 2016.