H.C.R. 175 Summary

• Urges the Department of Land and Natural Resources (DLNR) and Sand Island Business Association to continue discussions regarding sale or exchange of land parcels within the Sand Island Industrial Park on Oahu.

• Recognizes Sand Island Business Association members' substantial investments of over $41 million in infrastructure improvements and $55 million in leasehold improvements to individual parcels.

• Authorizes DLNR to pursue land exchanges to help secure small business viability while diversifying the state's property portfolio away from tsunami-prone areas where over half of DLNR's operational revenue is currently concentrated.

• Requires DLNR to submit three preliminary progress reports (within 20 days of 2013 session adjournment, by July 31, 2013, and by October 31, 2013) and a final report with proposed legislation by 20 days before the 2014 regular session.

• Acknowledges that the Sand Island Industrial Park is appraised at $97.2 million, with the majority of member businesses being small locally-owned enterprises employing approximately 2,000 employees.