HI HB2482

Allows the Hawaii Community Development Authority to lease property constituting a project for up to 65 years without public auction or sealed bid notice in the Kakaako community development district.

Removes the restriction limiting redevelopment projects to only incidental commercial nature, enabling the authority to attract long-term investors for primarily commercial projects.

Requires the authority to approve all long-term leases at publicly noticed meetings with opportunity for public comment.

Includes provisions requiring the authority's right to repurchase leasehold property if sold within 10 years, unless the authority waives this requirement; establishes a formula for repurchase pricing based on market conditions.

Takes effect upon approval.