Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Water, Land, and Agriculture, to which was referred S.B. No. 813 entitled:

begs leave to report as follows:

The purpose of this measure is to extend to the 2003-2005 fiscal biennium, the authority of the Hawaii Community Development Authority to issue special facility revenue bonds for the Kaka`ako Aquarium.

Testimony in support of this measure was submitted by the University of Hawaii at Manoa and the Hawaii Community Development Authority (HCDA).

Your Committee finds that the vision for the Kaka`ako Waterfront is to be a center for cultural, recreational, commercial, educational, and research activities. One of the anchors for this vision is a world-class ocean science center that includes research facilities, incorporating a number of the University of Hawaii's successful ocean research programs. The HCDA is currently in exclusive negotiations with KUD International LLC for the leasing of land for a marine science complex on the Kaka`ako Waterfront. This complex would include an aquarium, research facilities, and a private research institute.

As affirmed by the record of votes of the members of your Committee on Water, Land, and Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 813 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.