Hawaii counties will receive $225 million in bond authority under a program created by the federal stimulus plan, U.S. Sens. Daniel Inouye and Daniel Akaka said yesterday.

The Recovery Zone Economic Development Bonds allow counties and large cities to obtain lower borrowing costs through a new direct federal payment subsidy to finance a broad range of qualified economic development projects, such as job training and educational programs.
Recovery Zone Facility Bonds are a type of traditional tax-exempt private activity bond that may be used by private businesses in designated recovery zones to finance a broad range of depreciable capital projects.
Honolulu is eligible for $29,431,000 in Recovery Zone Economic Development Bonds and $44,147 in Recovery Zone Facility Bonds.
Hawaii County’s numbers are $24,678,000 and $37,017,000; Kauai’s $12,166,000 and $18,249,000; and Maui’s $23,725,000 and $35,587,000.