comscore Disputed internal DLNR analysis estimates state losing millions in lease extensions
Hawaii News

Disputed internal DLNR analysis estimates state losing millions in lease extensions

  • BRUCE ASATO / BASATO@STARADVERTISER.COM

    The Department of Land and Natural Resources has been granting 10-year lease extensions to tenants of a Hilo industrial park, above, without seeking compensation for the state’s deferred interests in the buildings — a practice some have questioned. But the agency says state law does not require such compensation and that granting extensions results in tenants investing in substantial improvements on the property.

When a ground lease expires, the buildings or other improvements on the land typically become the property of the landowner. Read more

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