HI HB1258

Establishes the Banyan Drive community development district in Hawaii County under the jurisdiction of the Hawaii Community Development Authority (HCDA), encompassing approximately 85% of overnight visitor accommodations in east Hawaii.

Creates a five-member Banyan Drive advisory committee consisting of the Hawaii County planning director, two members appointed by the governor from lists submitted by legislative leaders, and two members appointed by the governor, with voting authority on HCDA matters relating to the district.

Defines district boundaries running from Lihiwai Street and Mamalahoa Highway along the shoreline through Kamehameha Avenue, Keaa Street, Kalanianaole Avenue, Kumai Street, and back to the shoreline.

Transfers fifteen state leases covering three resort facilities, three apartment/condominium facilities, one golf course, and one restaurant from the Department of Land and Natural Resources to the HCDA, effective July 1, 2011.

Establishes a dedicated Banyan Drive community development revolving fund to receive all HCDA revenues and appropriations for redevelopment activities, infrastructure improvements, and planning within the district.