A bill is currently before the Honolulu City Council which would establish a cap on lease rents tied to increases in the consumer price index. A proposal by the state would extend the Land Reform Act to include condominium apartment owners, allowing them to purchase the land under their property. These bills, if passed, will probably be appealed through the courts, perhaps all the way to the U.S. Supreme Court. Ultimately, the Courts decision will be based on 1.) the public purpose to be achieved by the legislation and 2.) fair compensation to the land owners. Apartment owners and the attorneys who have examined the bills for the apartment owners, believe the bills will be found to be constitutional. If these bills are not approved by the City Council, the social disruption in our community will be tremendous. Some apartment owners, especially senior citizens will lose their homes and be included in the growing ranks of the homeless. Thats a prediction that I hope will never be tested.
Posted on: Tue, 30 Sep 2014 05:30:29 +0000
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