Open Space issue by Debbie Hecht

[Rob Tucker]

Open Space Bond
can save
Hawaii Island's Treasured Lands
for Parks
by Debbie Hecht

Do we need more parks? Should we save out treasured lands in this economic downturn, while these properties are affordable? Hawaii Island's unique lands are the basis for our quality of life and a potential eco-tourism industry. These lands need to be saved now for our children and grandchildren. The $3.5 to $4 million dollars generated from 2% of Hawaii county property taxes could be used as the principal and interest payment for approximately $50 million of bonds. This is not a new idea! Over 200 communities across the US passed Open Space Bonds from 2004 to mid-2007.

Bonds are like your home mortgage. The county borrows money and then pays it back at approximately 5% over 20 years. The approximately $3.5 to $4 million generated from the 2% money could be used as the principal and interest payment on approximately $50 million in Bonds. Right now interest rates are low, the land values have decreased by 35% and are still falling. Some landowners with properties slated for development are eager to sell. This economic downturn is a golden opportunity for the citizens of Hawaii County! If we had Open Space Bond money we could buy open space and parkland properties now!

The Hawaii County Council has approved ten Resolutions, which instruct the Director of Finance to begin negotiations for acquisition: Puapua'a Historic site (12+ acres north of Casa de Emdeko- Ali'i Drive, Kona), Waipio Lookout (acquired), Honoli'i, Cape Kumukahi, Ocean Park, Honolulu Landing, Wai'ele, Kawa Bay (partially acquired), Punalu'u Beach park, Pa'o'o and Kiholena.

The County council could establish a procedure for Truth in Bonding, with full disclosure, so citizens knew that our 2% money could go only to acquire properties prioritized by the Open Space commission and approved of by the Council. Properties would need to be acquired from landowners that were willing to sell. Another benefit of having Bond money would be that the county could attract matching funds from the federal and state governments, such as state Legacy Lands Funds.

How can this be accomplished? A simple change in the Open Space and Public Access ordinance in the County Code, requiring that the 2% funding first be applied to pay the debt service on an open space bond.

Questions? Call Debbie Hecht 989-3222-or email hecht.deb@gmail.com
Coordinator 2% for the Land Fund Campaign