Gov. Neil Abercrombie signed House Bill 2434 (Act 81), a landmark proposal to establish a conservation easement preserving 665.8 acres of land owned by Turtle Bay Resort.
Act 81, which takes effect July 1, authorizes the Hawaii Tourism Authority to issue $40 million in revenue bonds and use the proceeds to acquire a conservation easement at Turtle Bay.
The measure will allow for the preservation of nearly 79 percent of the open space land owned by the resort. The total value of this agreement is $48.5 million; $40 million will be provided by the state, $5 million will be provided by the City and County of Honolulu, and $3.5 million will be provided by The Trust for Public Land.
"Today marks the culmination of years of effort among the state, city, The Trust for Public Land and Turtle Bay Resort to protect the future of the North Shore for future generations," Abercrombie said. "I am pleased my administration was able to play a positive role in bringing the Turtle Bay issue to a successful conclusion. The result will keep the country, country. It will protect pristine coastlines from development, and provide open space and access for everyone."
"This is a milestone decision that will help us to protect Hawai'i's natural resources and balance the needs of our community and industry," said HTA President and CEO Mike McCartney.