Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1111, H.D. 1, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of $25,000,000 in special purpose revenue bonds for the EV Community Development Corporation.

Your Committee received favorable testimony from Kulana Malama on this measure.

Your Committee finds that the EV Community Development Corporation is a private, nonprofit organization that intends to develop an intergenerational care center, Kulana Malama, in the Ewa Plains. The center will provide a continuum of care to twenty-four frail elderly as well as twenty-eight medically fragile infants and children. The project is projected to begin in the late spring or early summer.

Your Committee further finds that the bill supplements a special purpose revenue bond issuance of $15,000,000 made for the same purpose in 1999. The cost increase is attributed to inflation in materials and labor as well as a redesign to include an educational center and life skills center to meet the needs of medically fragile children and frail elderly.

Your Committee has amended the bill by extending until June 30, 2004, the sunset date limiting the issuance of special purpose revenue bonds assisting not-for-profit corporations that provide health care facilities to the general public.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1111, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1111, H.D. 1, S.D. 2.