The local Hawaii government has approved funding for transforming the Aloha stadium. Hawaii Governor David Ige recently signed into law a bill that will provide funding for the new stadium development, according to media reports.
The new law, termed Act 268, allows the Hawaii Community Development Authority to upgrade state-owned property under the stadium authority’s jurisdiction and designates the area around the sports center as the Stadium Development District, Hawaii Public Radio reported.
Aloha Stadium in Hawaii is set to undergo a transformation after Governor David Ige signed into law a bill that will provide funding for a new stadium development.
Act 268 will allow the Hawaii Community Development Authority to upgrade state-owned property under the stadium authority’s jurisdiction, designating the area around the sports venue as the Stadium Development District.
The law allocates $20 million in general funds to improve the district for public use. It also approves issuance of up to $180 million in revenue bonds and $150 million in general obligation bonds to build a new stadium, the report stated.
Aloha Stadium, officially opened in 1975, currently seats 50,000 people for concerts, sporting events, and other uses. The stadium is also the site of the Aloha Stadium Swap Meet and location of University of Hawaii football team games.
State Rep. Aaron Ling Johanson, who represents the Aiea and Moanalua area, said enhancements to the Stadium Development District will include recreational, educational, and commercial improvements.
“The development of additional community on the stadium parcel will help to link existing neighborhoods and communities, the Pearl Harbor Historic sites, and the rail in a more seamless and natural way,” Johanson said in a statement. “This day is about a renaissance of our Aiea-Stadium community.”
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
Coliseum facilitates a dialogue between stadiums, arenas, clubs, leagues and experts and enables them to learn from each other while establishing relationships. Coliseum’s digital 365Coliseum Business Center is a vast pool of resource for the stadium and arena industry world-wide.