Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Water, Land, and Agriculture, to which was referred H.B. No. 2555, H.D. 2, entitled:

begs leave to report as follows:

The purpose of this measure is to prohibit any agency from selling fee interest in public lands in the Kakaako community development district and authorizes the issuance of revenue bonds for approved plans in the Kakaako community development district.

Testimony in support of this measure was submitted by thirteen individuals. Testimony in opposition to this measure was submitted by the Hawaii Community Development Authority. Comments were submitted by Friends of Kewalo Basin Park Association; Save Our Kaka`ako Coalition; Windstar Foundation, Honolulu; and seventeen individuals.

Your Committee finds that clarification of all state agencies' power to sell fee interests in public lands is necessary and that the issuance of revenue bonds may be necessary to implement approved plans for portions of the Kakaako community development district, as long as the bonds are only issued if income from the project is insufficient to cover the project costs and there is a shortfall and the development does not include residential dwellings makai of the subject area.

However, after hearing all of the public testimony and after careful consideration, your Committee has amended this measure by:

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 H.B. No. 2555, H.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2555, H.D. 2, S.D. 1, and be referred to the Committee on Ways and Means.