Classification of wasteland development property

(a) Within four months after the filing of the application with the director, the director shall make a finding of fact as to the eligibility of such land for classification as wasteland development property, whether it can be developed in the manner specified by the owner, whether the development will add to the development of the economy of the State, and whether the development will broaden the tax base of the State. The determination shall be based upon all available information on soils, climate, land use trends, watershed values, present use of surrounding similar lands, and other criteria as may be appropriate. (b) Upon the finding by the director that the property is eligible for classification as wasteland development property, that it can be developed in the manner specified by the owner, that the development will add to the economy of the State, and that it will broaden the tax base of the State, the property shall be classified as wasteland development property. If the director finds it otherwise for any one of the above criteria, the application shall be disapproved. (c) The applicant may appeal any disapproved application as in the case of an appeal from an assessment. (d) Land classified as wasteland development property shall be administered by the department and the department may from time to time adopt rules for their administration pursuant to HRS Chapter 91. )