HRS §171-50.1
Buying private land to trade for leasehold conversion
The board can buy private land through negotiation to use in exchanges that help convert leasehold properties to fee simple ownership. This is considered a public purpose to encourage widespread home ownership.
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The statute, as written — Acquisition of lands for exchange under chapter 516
The board may acquire private lands by negotiated purchase to be exchanged to effect the conversion of leasehold lands to fee simple ownership under section 171-50.2. The legislature declares that such acquisition is for the public purpose of encouraging home ownership on as widespread a basis as possible.
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