HI HR157

Urges the Department of Land and Natural Resources 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 $41,000,000 in infrastructure improvements and over $55,000,000 in leasehold improvements to individual parcels under a 1992 fifty-five year master lease.

Requests the Department of Land and Natural Resources submit three preliminary reports to the Legislature: one within twenty days after the 2013 Regular Session adjournment, one by July 31, 2013, and one by October 31, 2013.

Requests a final report with proposed legislation to be submitted no later than twenty days prior to the 2014 Regular Session convening.

Notes that Act 235 of 2011 authorizes the Department to consider selling or exchanging Sand Island Industrial Park lots to leaseholders, and emphasizes the need for geographic diversification to reduce the Department's revenue concentration risk in a tsunami inundation zone.