Report Title:

Kalaeloa; Appropriation

Description:

Appropriates funds in order to provide a portion of matching funds necessary to develop an economic master plan for Kalaeloa. (SD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

2840

TWENTY-SECOND LEGISLATURE, 2004

H.D. 1

STATE OF HAWAII

S.D. 1


 

A BILL FOR AN ACT

 

relating to enhancing economic diversity.

 

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

SECTION 1. The legislature finds that a rebounding Hawaii economy offers new opportunities for Oahu's "second city" at Kapolei, an area still lacking significant job growth, which is a factor contributing to traffic gridlock into Honolulu. Development in this area would support a major component of Hawaii's twenty-first century "knowledge economy" and build a strong economic base for the area.

Taking strategic advantage of Kalaeloa would also substantially enhance Hawaii's efforts to diversify its economic base and expand opportunities for existing and new businesses. This would be particularly valuable for the small business community, which currently employs over half of Hawaii's workers and represents ninety-seven percent of all companies in the State. The emerging leaders in many new industries have repeatedly emphasized that smaller size organizations are producing big results in a variety of fields – a trend that will continue.

To maximize the economic potential of Kalaeloa, a comprehensive and well-organized master plan must be developed. This economic master plan would analyze a variety of potential uses for Kalaeloa in order to determine which use will accrue the greatest benefit to the State.

The United States Department of Commerce, Economic Development Administration, has recently made grant moneys available to the Hawaii community development authority for the purpose of developing an economic master plan for Kalaeloa. However, in order to receive this grant money, the Hawaii community development authority must guarantee a certain portion of matching funds from the State.

The purpose of this Act is to appropriate a portion of the matching funds necessary for the Hawaii community development authority to receive grant moneys from the United States Department of Commerce, Economic Development Administration, in order to conduct economic master planning for Kalaeloa.

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2004-2005 for the purpose of providing a portion of matching funds needed by the Hawaii community development authority to be eligible for grant moneys from the United States Department of Commerce, Economic Development Administration, to conduct economic master planning for Kalaeloa.

The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 3. This Act shall take effect on July 1, 2004.