PROPOSED DISPOSITION OF HAWAIIAN HOME LANDS
BY PUBLIC AUCTION OF A GENERAL LEASE
FOR BUSINESS MIXED-USE DEVELOPMENT
Property Address: 820 Isenberg Street, Honolulu, Hawaii
The Department of Hawaiian Home Lands (DHHL) intends to dispose of lands by public auction. As authorized by §204(a)(2), Hawaiian Homes Commission Act, 1920, as amended, individuals or corporations interested in leasing the property herein described shall have 42 days from the date this “NOTICE OF PROPOSED DISPOSITION” is first published, that date being December 5, 2008, in which to submit completed applications for DHHL consideration.
All completed applications received by 4:00 p.m. on Friday, January 16, 2009, shall be reviewed and only those applicants that meet DHHL’s initial objectives and eligibility criteria shall be notified in writing as being “eligible” for further consideration of their proposals. Eligible applicants shall then be required to submit detailed development plan information and a sealed rent proposal to DHHL by no later than 4:00 p.m. on Thursday, April 16, 2009. After DHHL reviews the detailed development plan information, those meeting DHHL’s additional objectives and qualification criteria shall be deemed “qualified” and invited to attend the opening of all qualifying sealed rent proposals to be conducted at DHHL’s Kapolei (Oahu) Office on Friday, May 1, 2009, at 10:00 a.m.
Information Packets containing an application form, requirements for completing an acceptable application, and other property information are available for prospective applicants during regular office hours at DHHL’s Kapolei Office located at 91-5420 Kapolei Parkway, Kapolei, HI 96707, or at the district offices located on the neighbor islands.
Land to be disposed: The property to be disposed, identified by Tax Map Key Nos. (1)2-7-08:18 and 20, contains approximately 82,493 square feet (1.89 acres) of land, and is located at 820 Isenberg Street, in the McCully-Moiliili district of Honolulu.
Purpose/Use: The property is being offered for business mixed-use development. Improvements and uses shall conform to those allowed in a BMX-3 zoning district and all applicable permit requirements consistent therewith.
Term: The maximum term of the lease shall be 65 years.
Rent: The minimum upset rent for the first year of the lease is $682,500.00
Rent for second year and up to a maximum of the twenty-fifth year shall be set during lease negotiations, provided that no negotiated rent shall be less than that of the preceding year. Rent negotiations shall include, but are not limited to, provisions for step increases, sublease rent participation and percentage rent.
Rent Reopening: After the set rent period, future rent shall be determined by an independent appraisal at subsequent ten (10) year intervals.
Telecommunication Service: Sandwich Isles Communications, Inc. (SIC) will provide telephone and broadband services to the project at a time when such services are needed.
Chapter 343, Environmental Assessment: The successful bidder shall be required to complete compliance with Chapter 343 of the Hawaii Revised Statutes, as amended, prior to the final execution of the lease and the start of any construction activity on the site. Such compliance shall assess the impacts that the proposed development will have on the surrounding environment, such as traffic, parking, noise, etc.
Other Information: Reports, such as a market value appraisal, a Phase I site assessment, and an environmental assessment will be available for review in DHHL’s offices during normal office hours, however, these reports cannot be removed from the office and will not be reproduce as handouts to prospective applicants.
The Department of Hawaiian Home Lands reserves the right to cancel or modify this disposition of its lands at its sole discretion.
Please call (808) 620-9456 (Kapolei) for the locations of neighbor island district offices and/or to make an appointment to review reports (referred to in Other Information above). For additional information, questions and/or to schedule a site inspection, you may contact Noel Akamu at Department of Hawaiian Home Lands, Property Development Manager, (808) 620-9453 on Oahu.
Date: Honolulu, Hawaii____________________
State of Hawaii
DEPARTMENT OF HAWAIIAN HOME LANDS
By Micah A. Kane, Chairman
Hawaiian Homes Commission