SB997 Summary

• Establishes the Stadium Development District under the Hawaii Community Development Authority (HCDA) to oversee redevelopment of Aloha Stadium and surrounding state-owned property currently under the stadium authority's jurisdiction.

• Exempts the stadium development district from standard community development plan requirements, allowing the HCDA executive director to facilitate development consistent with the Aloha Stadium Conceptual Redevelopment Report (February 23, 2017) and county transit-oriented development plans.

• Transfers fee simple title of all stadium authority-owned parcels (including TMK 99003055:0000, 99003061:0000, 99003070:0000, and 99003071:0000) from the Department of Land and Natural Resources to the stadium authority; transfer must begin by December 31, 2019.

• Appropriates $50,000,000 in general revenues for fiscal year 2019-2020 and authorizes $150,000,000 in reimbursable general obligation bonds for the HCDA to establish and develop the district, with revenues used to repay bond principal and interest and maintain the stadium.

• Authorizes issuance of $150,000,000 in additional general obligation bonds for construction of a new stadium facility.