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The Honolulu Advertiser
Posted on: Thursday, April 8, 2010

State Auditor: Dismantle Aloha Tower Development Authority

Advertiser Staff

A new report by the State Auditor's office recommends the Aloha Tower Development Corp. be abolished.

The report says responsibilities handled by the agency should be shifted to the state Harbors Division and the Hawai'i Community Development Authority.

"After 30 years of effort, the corporation has managed to complete only one phase of its original mixed-use development plan - and that development, the Aloha Tower Marketplace, is struggling," said the report.

"Without its component parts, the marketplace generates far less than was expected and has been unable to realize its projected financial benefits for the state - over $4 billion over 65 years."

The report was requested by the state Legislature in 2008. The audit notes the development corporation was established in 1981 and that almost ever development it has undertaken has resulted in litigation.