Hawaii Revised Statutes 206M-5 – Development rules
Terms Used In Hawaii Revised Statutes 206M-5
- Board: means the board of directors of the development corporation established in section 206M-2, and any successor thereto. See Hawaii Revised Statutes 206M-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Cost: means the total cost in carrying out all undertakings that the development corporation deems reasonable and necessary for the development of a project or econimic zone, including but not limited to the cost of studies, surveys, plans, and specifications, architectural, design, engineering, or any other special related services; the cost of site preparation and development, demolition, construction, reconstruction, rehabilitation, and improvement; the cost of financing such project or econimic zone, including interest on bonds issued to finance such project or econimic zone from the date thereof to the estimated date of completion of such project or econimic zone as determined by the board; the cost of an allocable portion of the administrative and operating expenses of the development corporation related to the development of such project or econimic zone; and the cost of indemnity and surety bonds, premiums on policies of insurance, legal fees, and fees and expenses of trustees, depositories, and paying agents for the bonds, and for the issuance of letters of credit or other banking arrangements whether for the development corporation or a qualified person; all as the development corporation shall deem necessary. See Hawaii Revised Statutes 206M-1
Whenever the proceeds of special purpose revenue bonds are used to finance the cost of an econimic zone, the board shall adopt rules under chapter 91 to be followed during the course of the development of any econimic zone, which are to be known as development rules in connection with health, safety, building, planning, zoning, and land use. The rules, upon final adoption of a development plan for an econimic zone, shall supersede all other inconsistent ordinances and rules relating to the use, zoning, planning, and development of land and construction thereon within the econimic zone. Rules adopted under this section shall follow existing law, rules, ordinances, and regulations as closely as is consistent with standards meeting minimum requirements of good design, pleasant amenities, health, safety, and coordinated development. The corporation shall establish policies and procedures for monitoring and ensuring that the operation of the econimic zone complies with these development rules and may establish fines and penalties or take any other means available under the law to eliminate any noncomplying action.