Information on an Open Space Bond for Hawaii County

An Open Space Bond can save Hawaii Island’s Treasured Lands for Parks

Hawaii Island’s unique lands are the basis for our quality of life and a potential eco-tourism industry. These lands need to be saved now for our children and grandchildren.  The $3 to $4 million dollars generated from 2% of Hawaii county property taxes, and set aside in the Land Fund could be used as the principal and interest payment for approximately $45 million of bonds. This is not a new idea!  Over 200 communities across the US passed Open Space Bonds from 2004 to mid-2007 (Trust for Public Lands Database: http://www.conservationalmanac.org/landvote/cgi-bin/nph-landvote.cgi/000000A/https/www.quickbase.com/db/bbqna2qct.

Bonds are like your home mortgage.  The county borrows money and then pays it back at approximately 5% over 20 years. The approximately $3 to $4 million generated from the 2% money could be used as the principal and interest payment on approximately $45 million in Bonds. Right now interest rates are low, the real estate values have decreased by 28.42% in some areas of the Big Island (WHT-Multiple Listing  statistic, 2/09) and are still falling. Some landowners with properties slated for development are eager to sell.  This economic downturn is a golden opportunity for the citizens of Hawaii County!  If we had Open Space Bond money we could buy open space and parkland properties now!

The Hawaii County Council has approved ten Resolutions, which instruct the Director of Finance to begin negotiations for acquisition:  Puapua’a Historic site (12+ acres north of Casa de Emdeko- Ali’i Drive, Kona), Waipio Lookout (acquired), Honoli’i, Cape Kumukahi, Ocean Park, Honolulu Landing, Wai’ele, Kawa Bay (partially acquired), Punalu’u Beach park, Pa’o'o and Kiholena. Click here to see the:  openspacepropertieschart-nov08

As of 4/15/09 there are 3 properties that are included in the council’s list of properties to acquire that are actively listed for sale with real estate brokers- Puapua’a in Kona and Kaiholena and Pao’o in Kohala.

The County council could establish a procedure for Truth in Bonding, with full disclosure, so citizens knew that our 2% money could go only to acquire properties prioritized by the Open Space commission and approved of   by the Council.  Properties would need to be acquired from landowners that were willing to sell.  Another big benefit of having Bond money would be that the county could attract matching funds from the federal and state governments.

How can this be accomplished?  A simple change in the Open Space and Public Access ordinance in the County Code, requiring that the 2% funding first be applied to pay the debt service on an open space bond.

Questions? Call Debbie Hecht 989-3222- Coordinator 2% for the Land Fund Campaign

WE CAN USE A SOLID PARKS SYSTEM AS THE BASIS FOR AN ECO-TOURSIM INDUSTRY   More information, click here:  ( http://www.dhecht.com/wp-admin/page.php?action=edit&post=14)