[§171-193] Lessees within the last ten years of their lease terms; request for interest. [See Note at part heading.] (a) Notwithstanding any other provision of law to the contrary, and except as otherwise provided in section 171-192, a lessee of public land within the Hilo community economic district that is classified as hotel, resort, or commercial and industrial use pursuant to section 171-10, and that is subject to the management, administration, or control of the board may, during the last ten years of the term of the original lease, submit a written request to the board to initiate a request for interest process as provided in this section.
(b) Within one hundred eighty days of a lessee's written request to initiate a request for interest, the board shall:
(c) Within ninety days after the closing date specified in the notice, the board shall determine if any persons have qualified under the terms of the request for qualifications and shall notify all persons who expressed interest as to whether they qualified. Qualified bidders shall be required to deposit an amount equal to one per cent of the value of the leasehold improvements as determined by appraisal, but not less than $1,000, to be held in an interest bearing account as deposit by the department and returned to the applicant at the applicant's cancellation of interest, the applicant's unsuccessful bid at auction, or as a credit against the applicant's successful bid at auction. The board shall also notify the current lessee as to whether any other persons qualified.
(d) The board shall proceed to dispose of the land in accordance with section 171-41.6. [L 2018, c 149, pt of §2]