Rep. Jon Riki Karamatsu
Written Remarks
House Bill 2429, House Draft 2
Creates the University of Hawaii Stadium Corporation and transfers the duties of maintenance, operation, management, and improvement of Aloha Stadium from the Stadium Authority to the Stadium Corporation.
March 4, 2008
I rise in support.
The legislature finds that Aloha stadium is a public asset with major structural deficiencies yet untapped potential. The legislature further finds that transferring jurisdiction over Aloha stadium to a public body with corporate powers is in the public interest. The legislature believes that such a corporation would be better able to maximize the use and, consequently, income of Aloha stadium and generate support for the capital improvement of Aloha stadium to substantially extend its useful life. The legislature also believes that placing Aloha stadium under a corporation may result in the generation of net income transferable to the University of Hawaii's intercollegiate athletics program.
The purpose of this Act is to create the University of Hawaii stadium corporation and transfer jurisdiction over Aloha stadium to the corporation. The primary duty of the stadium corporation is to operate, maintain, manage, and improve Aloha stadium with the University of Hawaii as the major tenant. The secondary duty is to generate net income from Aloha stadium that may be transferred to the intercollegiate athletics program of the University of Hawaii. The stadium corporation will be headed by a board of directors consisting of 11 members: the University of Hawaii president, five members appointed by the university board of regents, and five other members appointed by the governor, subject to the confirmation of the senate. All board members must have experience in business, marketing, accounting, economics, engineering, architecture, or sports administration. This bill also provides the stadium corporation with a certain degree of autonomy and flexibility to perform its duties.
Thank you.
JON RIKI KARAMATSU 