Two Legislative committees will begin looking into a proposed $200 million real estate deal that will settle the Office of Hawaiian Affairs ceded lands claims with the state.
In November, Gov. Neil Abercrombie and OHA announced they had reached a tentative settlement agreement on all claims from through July 1, 2012.
The agreement would give OHA land in Kakaako, near the waterfront park. In exchange, OHA will wave all ceded land claims from 1978 through June.
Ceded lands, once owned by the Hawaiian monarchy, are now held in trust by the state for the benefit of Native Hawaiians and the general public.
OHA’s current share of ceded lands receipts is about $15.1 million a year.
The Legislature, which must approve the approval, began discussing the settlement Monday.
Was this article valuable?
Here are more articles you may enjoy.
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
NAIC Victim of Cyber Incident Via PeopleSoft System 
IMA Latest to Sue Howden Over Alleged Employee Poaching 
Intersecting Risks and the Future of Construction Insurance 
