(a) Upon the filing of a petition by the number of lessees required by § 516-22 with the Hawaii housing finance and development corporation, the corporation shall request the lessor and the lessees or their designated agents to negotiate the just compensation which the lessees will pay to the lessor to acquire the lessor’s interest in the development tract. If no agreement is reached within sixty days after the request to negotiate, the parties shall simultaneously exchange written final offers together with any appraisals, other documents, and any other expert opinions on which their negotiating positions were based. Copies of the final offers and related documents shall be submitted to the corporation and the corporation may use the information in determining, prior to commencing condemnation proceedings, the probability that lessees will be able to meet the financial requirements of section 516-33(a)(4).
lease

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Terms Used In Hawaii Revised Statutes 516-51

  • 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.
  • Corporation: means the Hawaii housing finance and development corporation created by chapter 201H. See Hawaii Revised Statutes 516-1
  • Development tract: means a single contiguous area of real property not less than five acres in size which has been developed and subdivided into residential lots, including residential lots which may have been converted to fee simple and streets and roadways developed as an integral part of the development tract. See Hawaii Revised Statutes 516-1
  • Lessor: means any person who leases or subleases land to another, and the lessor's heirs, successors, legal representatives, and assigns. See Hawaii Revised Statutes 516-1
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
(b) This preliminary negotiation shall be in advance of and shall not constitute any part of any action in condemnation or eminent domain.

Any offers, appraisals, other documents, or any other expert opinions giving a value of the lessor’s interest in the development tract which were prepared by a party for use in preliminary negotiations as provided for in this section, for setting qualification amounts pursuant to section 516-33(a)(4), or for negotiations to determine the just compensation after designation to acquire the lessor’s interest in the development tract, and were not prepared for use in the trial shall not be discoverable, usable, or admissible by an opposing or adverse party in any action, suit, or proceeding brought under this chapter.

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