H.C.R. 196 Summary

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

• Recognizes that Sand Island Business Association members have invested over $41 million in infrastructure improvements and $55 million in leasehold improvements to individual parcels since the 1992 master lease was established.

• Authorizes Act 235 (2011) allows DLNR to consider selling or exchanging Sand Island Industrial Park lots to leaseholders, and notes the park is appraised at $97.2 million.

• Requests DLNR to submit three preliminary progress reports (by July 31, 2013, October 31, 2013, and twenty days after 2013 session adjournment) and a final report with any proposed legislation by twenty days before the 2014 regular session convenes.

• Acknowledges DLNR's need to diversify its property portfolio away from concentrated revenue in the Sand Island Industrial Park, which is located in a tsunami inundation zone.