Governor Neil Abercrombie has stated that he is committed to working with the Turtle Bay Resort to come to a land preservation agreement by the end of this year. Under the Governor's proposal, the state would give the resort up to $40 million to create a conservation easement that would protect 610 acres of land at Turtle Bay from development. The conservation land would stretch from Kawela Bay to Kahuku Point. Chief Executive Officer of Turtle Bay Resort, Drew Stotesbury is optimistic about reaching and agreement and right now the main discussion point with the state is the final price. The state appraised the 610 acres of land at between $31 million to $38 million, while the resort's appraiser came up with a much higher number.
Source: Honolulu Star Advertiser, 1-9-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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