Hawaii Administrative Rules › Title 4 - DEPARTMENT OF AGRICULTURE › Subtitle 8 - DIVISION OF AGRICULTURAL RESOURCE MANAGEMENT › Chapter 158 - NON-AGRICULTURAL PARK LANDS PROGRAM RULES › Subchapter 3 - POLICY, PLANNING, AND DEVELOPMENT › Section 4-158-17 - Terms of joint venture

Current through June, 2024
Any partnership agreement for a joint venture shall be
					 approved by the board and shall be in conformity with section
					 4-158-15. The terms of a
					 partnership agreement for joint venture shall include the following, wherever
					 appropriate:
(1) The development and
				  subdivision shall comply with appropriate state and county zoning and
				  subdivision requirements; provided that, pursuant to section
				  166E-10,
				  the development and subdivision may be exempt from the requirements;
(2) The partners shall file with the
				  department a good and sufficient bond conditioned upon the full and faithful
				  performance of all the terms, covenants, and conditions of the partnership
				  agreement;
(3) The dates on which
				  the partner must submit to the board for approval the preliminary plans and
				  final plans and specifications for the total development. No construction shall
				  commence until the board has approved the final plans and specifications,
				  provided that with board approval, construction on an incremental basis may be
				  permitted;
(4) The date of
				  completion of the total development, including the date of completion of any
				  permitted incremental development;
(5) The minimum requirements for off-site and
				  onsite improvements that the partner must install, construct, and complete by
				  the date of completion of the total development. The board may permit
				  incremental development and establish the minimum requirements for offsite and
				  on-site improvements that must be installed, constructed, and completed prior
				  to the date of completion of the total development;
(6) A partnership agreement may provide that
				  the board shall issue a lease to the nominees of the partner, including the
				  partner, pursuant to the terms previously negotiated and agreed upon between
				  the partner and the board, including lease rent to the lessee and method of
				  recoupment of expenses by the partner;
(7) In the event of a lease, the partner may
				  be permitted, after the partner has completed construction of any required
				  offsite improvement, to assign or sublease with board approval portions of the
				  leased lands in which the construction of any offsite improvement has been
				  completed to an assignee or sublessee who shall assume the obligations of the
				  partner relative to the parcel being assigned or subleased, including the
				  construction of any onsite improvement. The board may permit a partner to share
				  in the lease rent for a fixed period in order to recover costs and
				  profit;
(8) The board may include
				  in any partnership agreement or lease, provisions concerning notice of breach
				  or default, rights of a holder of a security interest, and consent to mortgage
				  as set forth in this chapter; and
(9) Other terms and conditions set by the
				  board.