PROPOSED DISPOSITION OF HAWAIIAN HOME LANDS
BY PUBLIC AUCTION OF A GENERAL LEASE
FOR BUSINESS MIXED-USE DEVELOPMENT
Property Location: East Kapolei, Island of Oahu
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 45 days from the date this NOTICE OF PROPOSED DISPOSITION is first published, that date being February 14, 2006, in which to submit complete applications for DHHL consideration.
All completed applications received by 4:00 p.m. on Friday, March 31, 2006, shall be reviewed and only those applicants that meet DHHLs initial objectives and 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 Friday, July 7, 2006. After DHHL reviews the detailed development plan information, those eligible applicants meeting DHHLs additional objectives and criteria shall be deemed qualified and invited to attend the opening of all qualifying sealed bids to be conducted at DHHL\u2019s Honolulu Office located at 1099 Alakea Street, Suite 1230, Honolulu, Hawaii on Wednesday, August 16, 2006, at 10:00 a.m.
Packets containing an application form, property information, objectives and criteria, and other requirements for completing the application process are available for pick up by prospective applicants during regular office hours at DHHLs Honolulu Office located at 1099 Alakea Street, Suite. 1230, or at the district offices located on the neighbor islands. Information packets may also be obtained on-line from DHHLs web site at http://www.hawaii.gov/dhhl/commercial. The appraisal feasibility study and geotechnical reports done for the site, may be reviewed during regular office hours but shall not be removed from DHHLs office. To make an appointment to review these reports and for the locations of neighbor island district offices, please call (808) 586-3858 (Honolulu).
Land to be disposed: The property to be disposed, identified as a portion of Tax Map Key No. (1)9-1-16:parcel 108, contains approximately 67.270 acres (2,930,281 square feet) of land, and is located in Honouliuli, Ewa, Oahu, Hawaii (aka East Kapolei).
Purpose/Use: The property is being offered for the developments of a regional shopping center. Improvements and uses shall conform to those allowed in a BMX-3 zoning district and all applicable permit requirements consistent therewith.
Term: The minimum term shall be 25 years and the maximum term shall be 65 years.
Rent: The minimum upset rent for the first 25 years is as follows:
Years 1-10 – $ 4,688, 450.00 per annum
Years 11-15 – $ 5,715,220.00 per annum
Years 16-20 – $ 6,310,175.00 per annum
Years 20-25 – $ 6,967,065.00 per annum
Rent Reopening: If the term of the lease extends beyond 25 years, the rent shall be re-determined by an independent appraisal prior to commencement of the 26th, 36th, 46th, and 56th years.
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 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 infrastructure, traffic, parking, noise, etc.
The Department of Hawaiian Home Lands reserves the right to cancel or modify this disposition of its lands at its sole discretion.
For additional information and/or to schedule a site inspection, you may contact Noel Akamu at Department of Hawaiian Home Lands, Property Development Manager, (808) 587-6432 on Oahu.
Date: Honolulu, Hawaii, February 6, 2005.
State of Hawaii
DEPARTMENT OF HAWAIIAN HOME LANDS
Micah A. Kane, Chairman
(SB03508866 2/14/06) Hawaiian Homes Commission