HOUSE OF REPRESENTATIVES	H.B. NO.	1670
TWENTY-SIXTH LEGISLATURE, 2012
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO THE HIGH TECHNOLOGY DEVELOPMENT CORPORATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that the high technology development corporation is a state agency that was established in 1983 to facilitate the development and growth of Hawaii's commercial high technology industry sector.

     The high technology development corporation developed the Manoa innovation center, the first and only innovation and incubation facility on Oahu that offers an array of client services, facilities, and equipment to assist new and early stage technology companies.

     The Manoa innovation center has incubated and graduated over a hundred companies, more than eighty per cent of which have become technology companies in the private sector, including Digital Island, Blue Lava Wireless, and Hoku Scientific.

     The Manoa innovation center was built with state funds on public lands that were subsequently transferred to the University of Hawaii.

     Since its second year of operation, the high technology development corporation has operated the Manoa innovation center without the benefit of general funds and relies solely on receipts and capital improvement program funds to operate its statewide programs.

     The high technology development corporation's current land lease with the University of Hawaii expires in 2015.  If the land lease is not extended, the State will lose the Manoa innovation center, a technology infrastructure and economic development engine that is difficult to replace.

     The legislature finds that development of an alternative site for the Manoa innovation center is unfeasible.  The center's success has been due in large part to its close-proximity to the University of Hawaii Manoa campus and its research activities and student interns.  Further, even if state funding were available, the development of a new facility would take a minimum of four years or more.

     Consequently, the legislature believes that it is a matter of statewide concern and in the public interest for the University of Hawaii to extend its land lease with the high technology development corporation to provide the high technology development corporation with sufficient time to make alternate arrangements for the Manoa innovation center.

     The purpose of this Act is to direct the University of Hawaii to extend the high technology development corporation's land lease for twenty-five years beyond the existing lease's expiration.

     SECTION 2.  The University of Hawaii shall extend the current land lease agreement with the high technology development corporation, located at 2800 Woodlawn Drive, Manoa, Honolulu, Hawaii, identified as Tax Map Key 2-9-26: Por. 3, 37, and 38, for no less than twenty-five years from the date of expiration.

     SECTION 3.  This Act shall take effect upon its approval.

INTRODUCED BY:

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Report Title:

High Technology Development Corporation; University of Hawaii; Land Lease

Description:

Requires the UH to extend the current land lease with the high technology development corporation for no less than 25 years from the date of expiration.

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