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 S.B. No. 735 entitled:

begs leave to report as follows:

The purpose of this measure is to increase the amount of special purpose revenue bonds authorized for the financing and refinancing of costs related to the acquisition, development, and construction of Kulana Malama, an intergenerational care center, by EV Community Development Corporation.

Your Committee finds that Kulana Malama, intended to provide a continuum of care for frail elderly and medically fragile infants and children, is projected to break ground in late spring or early summer, 2001. The special purpose revenue bonds authorization authorized by the Legislature in Act 289, Session Laws of Hawaii 1999, is insufficient because the program has been expanded as a result of community collaboration.

Your Committee received testimony in support of this bill from the Chairman of the Board of Directors of EV Community Development Corporation, a private nonprofit organization which intends to develop this project.

Your Committee has amended this bill by making technical, nonsubstantive changes.

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 S.B. No. 735, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 735, S.D. 1, and be placed on the calendar for Third Reading.