REPORT TITLE:
Land Exchange; Motor Speedway


DESCRIPTION:
Approves the exchange of public lands in North Kona for private
lands in South Kohala owned by Hawaii International Motor
Speedway.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                            806         
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO LAND EXCHANGE.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that it is in the public
 
 2 interest to enter in a land exchange with the Hawaii
 
 3 International Motor Speedway involving private lands in South
 
 4 Kohala, Hawaii, for public lands in North Kona, Hawaii.
 
 5      The state lands are in the vicinity of Kona International
 
 6 Airport and the Hawaii Electric Company power station in Kona.
 
 7 Water and power are not available on the property.  Due to their
 
 8 location, the inherently noisy environment, and the lack of
 
 9 utilities, these lands are not suitable for residential use.  The
 
10 private lands in South Kohala lie near Waikoloa Village and are
 
11 adjacent to the Waikoloa resort area.  They are ideal for
 
12 residential development.  Potable water is available via wells
 
13 and electric, telephone, and cable television facilities are all
 
14 located within close proximity to the private lands.  The private
 
15 lands are designated for "urban expansion" in the county of
 
16 Hawaii general plan.
 
17      SECTION 2.  Notwithstanding section 171-50(b), Hawaii
 
18 Revised Statutes, the twentieth legislature approves the land
 
19 exchange involving private lands in South Kohala, Hawaii, owned
 

 
Page 2                                         806         
                                     H.B. NO.           
                                                        
                                                        

 
 1 by the Hawaii International Motor Speedway, and public lands in
 
 2 North Kona, Hawaii; provided that:
 
 3      (1)  The public lands shall be less than or of substantially
 
 4           equal "fair market" value to that of the private lands;
 
 5      (2)  The "fair market" value of the private lands and the
 
 6           public lands shall be separately determined by a
 
 7           disinterested qualified appraiser or appraisers, and
 
 8           the cost shall be borne equally between the owner and
 
 9           the board of land and natural resources; and
 
10      (3)  No payment by the State shall be required should the
 
11           private lands exceed the value of the public lands, but
 
12           any difference in the value of the public lands over
 
13           the private lands shall be paid to the State at the
 
14           time of the exchange; provided that no exchange shall
 
15           be made should the value of the public lands exceed one
 
16           hundred twenty per cent of the value of the private
 
17           lands.
 
18      SECTION 3.  Notwithstanding section 171-50(c), Hawaii
 
19 Revised Statutes, the twentieth legislature approves the land
 
20 exchange involving private lands in South Kohala, Hawaii, owned
 
21 by the Hawaii International Motor Speedway, and public lands in
 
22 North Kona, Hawaii; provided that an exchange deed shall be
 
23 executed between the parties which contains the following:
 

 
Page 3                                         806         
                                     H.B. NO.           
                                                        
                                                        

 
 1      (1)  The location and area of the parcels of land to be
 
 2           exchanged;
 
 3      (2)  The value of the lands to be conveyed by the State and
 
 4           the private party;
 
 5      (3)  The name or names of the appraiser or appraisers
 
 6           involved; and
 
 7      (4)  The date of the appraisal or appraisals, which shall
 
 8           not be more than six months prior to the date of the
 
 9           final approval of the land exchange by the board of
 
10           land and natural resources.
 
11      SECTION 4.  This Act shall take effect upon its approval and
 
12 shall be repealed on June 30, 2000.
 
13 
 
14                           INTRODUCED BY:  _______________________