(BIVN) – The Hawai‘i State Senate passed a Senate Bill on Tuesday that would create a Hilo Community Economic District.
According to the description of Senate Bill 3058:
Defines the Hilo community economic district. Authorizes BLNR to extend or modify the terms of certain public land leases within the economic district upon approval by BLNR of a lessee’s development agreement to make substantial improvements to or construct new improvements on the land as long as the length of any extension granted does not extend the original lease term by more than 40 years. Establishes conditions for BLNR to approve any extension of the fixed rental period of term of certain public land leases in the economic district. Establishes causes of economic hardship for which BLNR may modify or eliminate any of the existing statutory restrictions on public land leases in the economic district, extend or modify the fixed rental period of these leases, or extend the term of these leases and amends the conditions for BLNR’s approval of any such modification, elimination, or extension. Establishes a separate request for interest process to public lands in the economic district. Requires qualified bidders to deposit an amount equal to one per cent of the value of the leasehold improvements. (CD1)
The bill passed final reading in the senate with 20 “ayes”, and 5 “noes”. Senator(s) Harimoto, Ihara, Karl Rhoads, Riviere, L. Thielen voted against the bill. Sen. Rhoads spoke against the bill from the floor of the senate.
A final vote in the State House was deferred one day and will be taken up on May 3.