(BIVN) – The Banyan Drive Community Development District was made official with the stroke of a pen on Wednesday, as Governor Josh Green signed Senate Bill 2001 into law.
The new law, Act 206, establishes the Banyan Drive Community Development District within the Hawaiʻi Community Development Authority (HCDA) and launches the Banyan Drive Community Development District Special Fund.
The bill was made law during a ceremony that included the signing of other legislative measures related to housing and community development. Lawmakers from Hawaiʻi island were present for the moment.
“Today is more than the signing of a bill,” said State Senator Lorraine Inouye, chair of the Senate Committee on Transportation and introducer of SB 2001. “It is the beginning of a new chapter for the district built on partnership, stewardship and a shared commitment for future generations. It will create a district that honors history, supports local businesses, strengthens the visitor experience, protects our natural and cultural resources and lasting economic opportunities.”
From the Office of the Governor:
HCDA will be amended to include representatives of the district, chairperson of the Banyan Drive Hawaiʻi Redevelopment Agency and a lineal descendant of the Waiākea Ahupuaʻa. This fiscal and administrative distinction within HCDA is designed to provide a structural framework by which the community can restore and revitalize.
The Banyan Drive Community Development District project aims to foster a radiant reimagining of the historic space, with emerging cultural and public facilities, including recreational, educational and entertainment spaces. Visitors and residents alike will be enriched with new opportunities to engage in this thriving community.
