HI HB1469

Establishes a new public lands redevelopment district framework allowing the legislature to designate areas with deteriorated commercial, industrial, hotel, or resort infrastructure for planned revitalization.

Creates planning committees for each designated district with nine members (including state and county officials plus appointed public members with business, finance, real estate, or hospitality expertise) to oversee redevelopment plans and coordinate improvements.

Modifies public land lease restrictions to allow lease renewals, extensions, and modifications based on development agreements for substantial improvements; permits rent reductions up to one year for projects requiring major investments.

Establishes a dedicated revolving fund for each redevelopment district receiving 50% of revenues from public lands in that district, plus legislative appropriations and grants, to fund district improvements and public facilities.

Designates the Waiakea Peninsula on the island of Hawaii as the first redevelopment district, establishes its planning committee and revolving fund, and appropriates $500,000 for fiscal year 2017-2018 with the district provisions expiring June 30, 2027.