HB 1497 Summary

• Establishes the Stadium Development District comprising all state land under the Stadium Authority's jurisdiction and grants the Hawaii Community Development Authority (HCDA) jurisdiction over development within the district.

• Authorizes HCDA to facilitate development of state property within the district, including coordinating with federal and county entities, developing necessary infrastructure, and promoting economic development and mixed-use housing consistent with transit-oriented development plans.

• Appropriates $50,000,000 from general revenues for fiscal year 2019-2020 for the establishment and development of the stadium development district, with unencumbered funds lapsing on June 30, 2022.

• Authorizes issuance of revenue bonds up to $150,000,000 and general obligation bonds of $150,000,000 plus $9,405,252 for building a new stadium, with appropriated funds not lapsing until June 30, 2022.

• Takes effect on January 1, 2050.