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<br />------------------- -------- -.- --------------- <br /> <br />. <br /> <br />. <br /> <br />. <br />I~ <br /> <br />COUNTY OF HAWAII <br /> <br />STATE OF HAWAII <br /> <br />RESOLUTION NO. 24.2 98 <br /> <br />A RESOLUTION URGING THE STATE TO APPROVE THE REQUEST OF $16 MILLION <br />IN REVENUE BONDS TO THE NATURAL ENERGY LABORATORY OF HAWAI'I <br />AUTHORITY. <br /> <br />WHEREAS, in these hard economic times the state needs to support venues that will <br />stimulate the economy and provide new jobs and do so in a manner that does not require <br />appropriations; and <br /> <br />WHEREAS, the state established the Natural Energy Laboratory ofHawai'i Authority <br />(NELHA) to promote economic development and diversification by providing support facilities <br />and infrastructure to entrepreneurs and researchers, so they can utilize the unique natural <br />resources available at Keahole Point; and <br /> <br />WHEREAS, Aquaculture research and development is emerging as a world market and <br />NELHA is the only facility worldwide which can consistently bring ashore a continuous supply <br />of both warm and cold seawater, making Hawai'i a unique site for potential tenants to explore <br />and develop ocean-related research, business and education ventures which capitalize on the <br />findings of science and technology, and continues to bring in tenants with products ranging from <br />energy conservation to Aquaculture; and <br /> <br />WHEREAS, NELHA tenants continue to grow and have experienced a 30% increase in <br />workers employed and land leased over the last year and who have contributed approximately <br />$43,000,000 into the local economy annually; and <br /> <br />WHEREAS, there are new prospective tenants that would like to move into the 550 <br />adjacent acres in the Hawai'i Ocean Science and Technology (HOST) Park by NELHA, as well <br />as nearly half of the existing tenants that would like to expand, however the existing seawater <br />supply systems are unable to provide significant volumes of warm and cold seawater to the <br />HOST Park area to support these projects; <br /> <br />WHEREAS, NELHA has constructed the shoreline crossing and has completed designs <br />for the installation of the two 55 inch pipelines needed to allow the new/expanding tenants to <br />achieve their full potential. <br />