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UPDATE: Action Postponed Again on Banyan Drive Bill

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Reed'sBayHotel-Sign
The Reed's Bay hotel is among five Banyan Drive properties with a lease expiring in 2015. File photo.

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  • 1eagle

    Finally, lets hope something gets done ! Banyan Drive should be and could be the “economic engine”. Get em Billy !!

  • http://www.facebook.com/people/Joseph-Bugado/100000166833701 Joseph Bugado

    whats ugly for tourist is our bad road s billy not banyan drive

  • Mike Middlesworth

    Dave–
    How much of the $800,000 rent Aila talks about is collected each year?

    • Dave Smith

      Mike, a DLNR spokeswoman tells me that as of today all lease payments are current. However, as noted in the October foreclosure article, the land board in 2011 allowed Hawaii Outdoor Tours to use half of its $1 million performance to cover past-due payments, and the state later took much of the remaining $500,000 bond to cover another late semi-annual payment. To keep the lease out of default, HOT’s creditor has been maintaining the bond at the $500,000 level.

  • Alita

    Yeah, what I am wondering is how the Hilo economyfeels unaffected by tourism…record year in spending tourist dollars, Hilo economy in the dumps. Hope this action helps.

  • http://twitter.com/SagasContinue M

    The facts that the Naniloa’s a disaster and several properties along Banyan Drive are blighted eyesores is proof positive the DLNR doesn’t work for Hilo.