Enterprise zone duration, reports, and county land rules

A. Upon designation by the governor of an area as an enterprise zone, the said enterprise zone shall retain enterprise zone status for a twenty-year period beginning on the date of the governor's designation. The amendment of a zone status under section 3.80.050 of this chapter shall not extend the twenty-year period. B. Within sixty days of the designation by the governor of an area as an enterprise zone, the mayor or the mayor's designated representative shall submit to the DBEDT a survey of the existing business conditions within the said enterprise zone. C. Annually, and within sixty days after the anniversary date of zone designation by the governor, the mayor or the mayor's designated representative shall submit to the DBEDT a report evaluating the enterprise zone program's effectiveness upon the said enterprise zone. D. If any portion of an area designated as an enterprise zone is subsequently included in an area designated as an enterprise zone by an agency of the federal government, the said enterprise zone shall be enlarged to include the area designated by the federal government. E. Upon designation of an area as an enterprise zone, the County may make available for sale or lease, under appropriate law, all County-owned land within the zone not designated or targeted for public use, with the condition that it be developed as defined in chapter 209E, Hawaiʻi Revised Statutes, and chapter 6 of title 15 , Hawaii Administrative Rules. No county land shall be sold or leased if the intended purpose of the sale or lease is real estate speculation. The County shall have the first option to purchase the property at a price not to exceed: 1. The original cost to the purchaser or lessee; 2. The cost of the improvements added by the purchaser or lessee; and 3. Simple interest on the cash equity on the property at the rate of seven percent per year. (Ord. 2376 § 1 (part), 1994)