HILO, Hawaii – Hilo’s state senator has introduced a bill to unlock the economic potential of his district’s urban core.

Hawaii State Senator Kaiali‘i Kahele announced on Wednesday – in a media release and a YouTube video, seen above – that he has introduced a bill to create the Hilo Community Economic District. The district would be placed under the jurisdiction of the Hawaii Community Development Authority, or HCDA.

Kahele said the bill, if passed, will build on the work of the Banyan Drive Hawai‘i Redevelopment Agency, and will involve master planning for the resort area as well as Wailoa State Park, Kanoelehua Industrial Area, Hilo International Airport and Pier, and other nearby state lands.

“This initiative combines the strengths of the public sector, private enterprise, and the community to conduct long-range planning and community building unlocking the economic potential of East Hawaiʻi,” said Sen. Kahele in the release. “This is truly a game-changer for Hilo. With this kind of synergy, we can build a Hilo for the future. A Hilo that our children can thrive in.”

Senate Bill 1292 would establishes the Hilo community economic revolving fund, requiring “all revenue, income, and receipts of HCDA for the district to be deposited in the Hilo community economic revolving fund, and a designated per cent to be transferred to the special land and development fund under the department of land and natural resources.”

The bill will also require a change in the make-up of the HCDA, to include “three representatives of the Hilo community economic district, comprising two residents of the district and one owner of a small business or one officer or director of a nonprofit organization in the district, nominated by the county council of the county in which the Hilo community economic district is located.”

Kahele said Wednesday was the final day for legislators to introduce a bill for consideration in the 2017 session.