Bill Text: HI SB2676 | 2010 | Regular Session | Amended
Bill Title: Aloha Tower Development Corporation; Appropriation
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2010-04-12 - (S) Act 017, 4/12/2010 (Gov. Msg. No. 473). [SB2676 Detail]
Download: Hawaii-2010-SB2676-Amended.html
STAND. COM. REP. NO. 2293
Honolulu, Hawaii
RE: S.B. No. 2676
Honorable Colleen Hanabusa
President of the Senate
Twenty-Fifth State Legislature
Regular Session of 2010
State of Hawaii
Madam:
Your Committees on Water, Land, Agriculture, and Hawaiian Affairs and Judiciary and Government Operations, to which was referred S.B. No. 2676 entitled:
"A BILL FOR AN ACT RELATING TO THE ALOHA TOWER DEVELOPMENT CORPORATION,"
beg leave to report as follows:
The purpose of this measure is to approve the settlement between Aloha Tower Development Corporation and Kenneth H. Hughes, Inc. and increase the budget ceiling appropriation from the Aloha Tower Fund.
Testimony in support of this measure was submitted by two state agencies. Written testimony presented to the Committees may be reviewed on the Legislature's website.
After completing an eighteen-month long arbitration proceeding and an additional six months of motions and hearings before the United States District Court, the Aloha Tower Development Corporation and Kenneth H. Hughes, Inc. reached a settlement agreement to resolve all disputes arising from the 2004 development agreement to develop Piers 5 and 6 within the Aloha Tower project area. The settlement agreement was entered into record before the court on November 13, 2009, and requires the Aloha Tower Development Corporation to make a one-time payment of $1,550,000 to Kenneth H. Hughes, Inc. This measure increases the Aloha Tower Development Corporation's 2009-2010 budget appropriation and spending ceiling by $900,000 from the Aloha Tower Fund to maintain the Corporation's annual budget and provide the necessary funds to make the one-time settlement payment. Your Committees find that this measure is necessary to pay the settlement sum, which is a significant savings from the arbitrator's ruling.
As affirmed by the records of votes of the members of your Committees on Water, Land, Agriculture, and Hawaiian Affairs and Judiciary and Government Operations that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2676 and recommend that it pass Second Reading and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committees on Water, Land, Agriculture, and Hawaiian Affairs and Judiciary and Government Operations,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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____________________________ CLAYTON HEE, Chair |
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