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Committees clear 99‑year leasehold amendments tied to Kaka'ako demonstration project; developers, HCDA discuss parking and state equity
Summary
Senate Bill 2,061 to clarify the 99‑year leasehold program and require at least 60% owner‑occupied units in urban redevelopment projects was passed with amendments. Developers and HCDA described a Kaka'ako demonstration project (≈370 units) with unbundled parking and $15 million in state equity for a parking garage and commercial spaces.
Senate Bill 2,061, which clarifies the 99‑year leasehold program (Act 97) and would require at least 60% of residential condominium units in urban redevelopment sites be set aside for owner‑occupancy, was recommended for passage with amendments and moved on to the Consumer Protection Committee and other follow‑up steps.
HCDA testified it supports amendments that preserve owner‑occupant requirements while removing constraints that could inhibit sales. Kolaila LLC representatives, including project manager Henry Chang and attorney William Yuan, testified in support and…
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