(a) An industrial park may be developed under § 171-134 by the department in partnership or under a development agreement with a federal agency, county, or private party subject to a partnership or development agreement executed by the chairperson of the board; provided that if the industrial park is to be developed in partnership or under a development agreement with a private party, the private party shall be selected in accordance with § 103D-302 or 103D-303. At a minimum, the agreement shall provide for:
Land: includes all interests therein and natural resources including water, minerals, and all such things connected with land, unless otherwise expressly provided. See Hawaii Revised Statutes 171-1
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Public purpose: as used in this chapter , unless the context clearly indicates otherwise, includes but shall not be limited to all public uses, the straightening of boundaries of public lands, acquisition of access to landlocked public lands, the consolidation of the holdings of public lands, development of houselots, farmlots, and industrial parks. See Hawaii Revised Statutes 171-1
(1) A determination by the board that the partnership agreement or the development agreement is for a public purpose;(2) Long-term assurance that the public land within the industrial park will be utilized for industrial uses;(3) Final approval by the board of the plans and specifications for the industrial park;(4) Exclusive authority by the board to issue leases or master leases within the industrial park; and(5) Conditions to ensure a public benefit from any state funds expended for the industrial park.(b) Notwithstanding any other provision of law to the contrary, a partnership or development agreement entered into pursuant to subsection (a) may provide for:
(1) The board to issue master leases within an industrial park by negotiation, without regard to the limitations provided in sections 171-16(c) and 171-59(a), to the entity that developed the industrial park or the nominee or nominees of the entity that developed the industrial park; and(2) A master lease with terms and conditions upon which the master lessee may issue tenant subleases within the industrial park without the consent of the board.
