Ko Olina aquarium is dead; $75 million credit returned | The Honolulu Advertiser

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Ko Olina aquarium is dead; $75 million credit returned | The Honolulu Advertiser | Hawaii's Newspaper

Updated at 7:54 p.m., Wednesday, January 17, 2007

Ko Olina aquarium is dead; $75 million credit returned

By Andrew Gomes
Advertiser Staff Writer

Developer Jeff Stone has canceled a plan to build an aquarium financed by controversial state tax credits at Ko Olina Resort & Marina, and has agreed to return the $75 million credit.

Stone said he agreed to forgo the credit after newly installed Senate president Colleen Hanabusa asked him to. Stone said the credit's objective — to stimulate economic development at the resort and surrounding West O'ahu community — has been accomplished by market forces.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.

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