HB 1497 Summary

• Establishes the Stadium Development District comprising all state land under the Stadium Authority's jurisdiction to optimize public land use for economic, residential, educational, and social benefit.

• Grants the Hawaii Community Development Authority (HCDA) jurisdiction over the district and requires permits for any development within it, including duties to coordinate with federal and state entities, facilitate property development, and build supporting infrastructure.

• Authorizes HCDA to issue up to $150,000,000 in revenue bonds and directs the Director of Finance to issue $159,405,252 in general obligation bonds ($150,000,000 plus $9,405,252) to build a new stadium.

• Appropriates $50,000,000 from general revenues for fiscal year 2019-2020 to establish and develop the district, with funds not lapsing until June 30, 2022.

• Establishes development guidance policies including alignment with county transit-oriented development plans, preservation of Hawaiian cultural sites and endangered species, and coordination with existing state and county programs.