For the first time in a decade of discussion about the future of rapidly deteriorating Aloha Stadium, bills before the Legislature propose a by-the-numbers financial blueprint and define a process for ancillary redevelopment of the 98-acre parcel.

Twin bills in the state House and Senate that call for a $350 million investment and the establishment of a development district under the oversight of the Hawaii Community Development Authority reflect an emerging consensus among key lawmakers about speeding up replacement of the 44-year-old facility.

“There is a lot of positive momentum, with both the House as well as the Senate money chairs fully on board,” said Sen. Glenn Wakai (D, Salt Lake-Pearl Harbor), who, along with Rep. Aaron Ling Johanson (D, Moanalua-Aiea), submitted the bills.

House Finance Committee chairwoman Sylvia Luke (D, Makiki-Punchbowl) said, “It is a long time coming. Every year they need about $20 million to $30 million just to take care of health and safety needs and, at some point in time, we really need to do the right thing and invest in construction of a new stadium. I think it is our collective thought that we need to do it now as opposed to later.”

Stadium Authority member Keith Amemiya said, “We can’t keep kicking the (can) down the road on building a new stadium. That only creates more delays and costs for the taxpayers. Ideally, the new stadium will be suited for a wide variety of sports and entertainment events, including football, soccer, rugby, concerts, mixed martial arts and perhaps even baseball.”

The bills describe the Halawa site as “underutilized” and Senate Ways and Means chairman Donovan Dela Cruz (D, Mililani-Wahiawa) said, “These bills establish a more appropriate process so that we can actually do something that is going to drastically improve the situation” through public-private partnerships.

Senate Bill 1530 and House Bill 1497 would appropriate $100 million out of general funds, up to $150 million in revenue bonds and $100 million in general obligation bonds for the 2019-20 fiscal year.

The revenue bonds would be paid off by the commercial and economic activities generated by the construction of the new stadium, Luke said.

The bills do not address the seating capacity of a new stadium, which is expected to be in the 35,000-seat range favored by the Stadium Authority based upon the money that would be allocated. But the creation of the development district in the Aloha Stadium footprint would rule out prospective sites beyond Halawa. The Department of Accounting and General Services, which oversees the Stadium Authority, recently favored opening up consideration of locations beyond Halawa.

“It is not just an appropriation of money or of revenue bonds; it is actually a path for specifically developing the parcel,” Johanson said. “We’re approaching a critical juncture in rail with respect to transit-oriented development. If this bill passes, then as the Aloha Stadium property is redeveloped, it has a chance to serve as a shining example.”

The Aloha Stadium Authority has so far overseen the lead-up to a decision, and chairman Ross Yamasaki declined to comment on specifics of the bills.

In a statement, stadium manager Scott Chan said, “We appreciate the Legislature’s interest and support for the potential redevelopment of Aloha Stadium. We have not yet had the opportunity to review and analyze all of the measures introduced this session related to the stadium. However, we look forward to actively working with both the Legislature and the administration to address the needs of the current stadium and explore options for a new facility and ancillary development of the site.”

Amemiya said, “Recent successful events like the Bruno Mars, Eagles and Snoop Dogg concerts have proven that there’s still a demand for a large-capacity stadium that can host both sports and nonsports events. When coupled with surrounding development like retail, affordable housing and hotels, this project will provide a huge economic boost and a multipurpose area that will be well-utilized by the general public for generations to come.”

Dela Cruz said, “From a macro point of view, because it looks like the economy is starting to slow down, projects like this are going to be more important.”

A leading figure in the stadium industry, who asked not to be identified because his company might elect to participate in future negotiations with the state, said potential developers have been waiting for a sign that the state is serious about pursuing public-private partnerships.

If passed, Johanson said, “it will show that the state is committed to making this happen.”