Talks about racetrack
tax credit restarting
A proposal to offer a tax credit for the construction of a motor sports racetrack at Kalaeloa has re-emerged in the state Legislature.
But the possibility of an aircraft carrier relocating to Pearl Harbor could put the brakes on racing at the former Barbers Point Naval Air Station.
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Lawmakers resumed talks on Senate Bill 1619, HD2, earlier this month. The bill was introduced last year but failed to win approval. State House and Senate lawmakers approved different versions of the bill but could not agree on a single proposal before the end of last year's legislative session.
The bill now under consideration would grant an unspecified investment tax credit for the construction of a race track at Kalaeloa.
A portion of the property identified for the racetrack belongs to the state Department of Hawaiian Home Lands, which wants to develop residential lots there. The Estate of James Campbell, which owns the Campbell Industrial Park site of the current racetrack, has offered to sell some Kunia agricultural land to racetrack developer Hawaii Motorsports Center. The developer, in turn, would swap that land for DHHL's Kalaeloa property.
But that was before the state started talks with the Pentagon to base a nuclear-powered aircraft carrier at Pearl Harbor.
"It changed the picture," said Lloyd Yonenaka, DHHL spokes-man.
The state is offering Kalaeloa as a home for the carrier's jet fighters and helicopters.
"We're sitting on the land until the carrier group decision," Yonenaka said.
The operator of the Hawaii Raceway Park testified last year that the facilities at Campbell Industrial Park are outdated and it needs to vacate the property by next year when its lease expires.
