Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1593, S.D. 2, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to ensure the availability of affordable housing units in urban Honolulu by establishing the Liliha-Palama Community Development District to be administered by the Hawaii Community Development Authority (HCDA).

The Hawaii Association of Realtors testified in support of this bill. The Honolulu Department of Planning and Permitting and numerous concerned individuals opposed this measure. HCDA provided comments.

Your Committee has amended this bill by:

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1593, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1593, S.D. 2, H.D. 2.