Section 15-22-203 - Applicability(a) Except as specifically provided in this section, all rules of this chapter applicable to development within the area encompassed by the master plan shall be those rules in effect at the time of master plan approval, notwithstanding any subsequent amendment of said rules. Such subsequent amendment shall be void as applied to development of property within the master planned area to the extent that it changes any rule which the authority has agreed at the time of master plan approval to maintain in force for a specified period of time. A master plan approval, however, shall not absolve the landowner or developer from complying with rules of general applicability enacted subsequent to the date of the master plan approval if said rules clarify or provide specificity to the rules which the authority has agreed to maintain in force at the time of master plan approval, or relate to aspects of development not previously dealt with, and could have been lawfully applied to development within the master planned area at the time of master plan approval.(b) As part of a master plan approval, the authority may grant exceptions to the applicable rules set forth in subsection (a) above. Said exceptions shall be applicable to any development permit processed within the effective date of the master plan approval, and shall be limited to the following: (1) The floor area of land uses, including reserved housing units, required by the base zone or planned development provisions of this chapter may be transferred from one development lot to one or more development lots within the master planned area, provided that: (A) The development lots are under the same ownership;(B) The maximum floor area ratio (FAR) for any lot to which floor area has been transferred shall not be increased by more than twenty-five per cent of the FAR otherwise allowed for the size of the development lot;(C) Development on any lot involved in the transfer shall not exceed its maximum allowable tower footprint and height;(D) The FAR remaining on a development lot from which floor area has been transferred shall not be less than 1.5, unless the development lot is developed in conjunction with development on the lot to which the floor area has been transferred;(E) Development on the development lot to which reserved housing units are transferred shall commence within two years after the development is completed on the development lot from which the reserved housing units were transferred, unless the first development project on any of the development lots involved in the transfer contains fifty per cent of the reserved housing units required for development of all lots involved in the transfer, provided the allocation of unit types for the reserved housing units shall constitute a proportionate representation of all the nonreserved unit types to be provided with regard to factors of square footage and number of bedrooms;(F) The authority shall obtain written assurance from the landowner that the requirements of this section will be satisfied and such assurance shall be binding upon the landowner and the landowner's heirs or successors in interest and shall be filed as a covenant running with the land in the bureau of conveyances or in the office of the assistant registrar of the land court; and(G) Failure to satisfy the requirements of this subsection shall be cause for denial of any development permit for the lots involved in the transfer.(c) In granting any of the exceptions provided in this section, the authority may impose standards and conditions in addition to or in place of the standards and conditions specified in this section as it finds are reasonable and necessary to carry out the purpose and requirements of this chapter and the mauka area plan. [Eff 9/8/86, comp 1/28/88, am and comp 2/24/90, am 12/15/94, am 11/25/96] (Auth: HRS §§ 206E-4, 206E-5, 206E-7) (Imp: HRS §§ 206E-7, 206E-33)