Maui preservation land Discount gets $500K help
Posted: Friday, January 31, 2014 2:41 PM ESTUpdated: Friday, January 31, 2014 2:41 PM EST
WAILUKU, Hawaii (AP) - An infusion of funds is allowing a West Maui land deal to move forward.
Gov. Neil Abercrombie has released $500,000 to help pay for appraisals, boundary surveys and a title search for the state's purchase of Lipoa Point from landowner Maui Land & Pineapple Company.
Abercrombie previously authorized $20 million to fund the purchase and preservation of about 280 acres of undeveloped shoreline around Honolua Bay.
Many Maui residents and environmental organizations support the initiative.
West Maui state Rep. Angus McKelvey says he's he hopeful the price will remain as agreed upon earlier.
The Maui News reported Friday that Maui Land & Pineapple declined to comment until the purchase is finalized.
The legislative appropriations mandate that money received from Maui Land & Pineapple go toward defined benefit pension funds.Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.