honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Thursday, March 20, 2008

Turtle Bay acquisition talks upbeat

By Eloise Aguiar
Advertiser North Shore Writer

Hawaii news photo - The Honolulu Advertiser

The state is trying to purchase the Turtle Bay Resort and preserve 880 acres of the complex.

ADVERTISER LIBRARY PHOTO | Feb. 21, 2006

spacer spacer

A drive to acquire and preserve 880 acres of resort complex at Turtle Bay has the governor, Legislature and an advisory group focused on the effort.

Gov. Linda Lingle and Oaktree Capital, owners of Turtle Bay, met Tuesday.

John Brady, managing director of Oaktree, said the meeting with the governor was serious and positive.

"She understands that we must be mindful of our obligations to our lenders, as well as to our employees and others in the community," Brady said in a press release. "This is a complex situation, but we are willing to work hard to try to find a viable solution."

On Monday a Senate committee advanced a bill that supports the purchase of the property, and yesterday Lingle's Turtle Bay Advisory Working Group met for the second time.

Lingle announced a proposal to purchase the resort in her State of the State address in January after learning about a $283 million foreclosure lawsuit filed against the owner in December.

Since then she has met with community leaders, agency officials and residents to organize the purchase. Lingle created the advisory working group to create a strategy and develop a plan to acquire the property.

For the most part, working group members, the governor and Oaktree appear to be gathering information and meeting with various people that are key to the acquisition, said Cathleen Mattoon, a Punalu'u resident and working group member.

The parties are learning more about each other and each other's needs, Mattoon said, adding that the group has divided up into committees.

She has joined the committee that wants to address the long-term viability of the resort and limiting resort development to one area.

"We're really concerned about preserving jobs for those who have it right now," she said.

Mattoon said the group was hopeful but aware that the Legislature would not fund the acquisition.

"We believe there will be a meeting of minds and somehow we will work things out," she said. "We're very aware of the fact that we must look for partners. (The funding) is going to have to come from grants and supporters."

Junior Primacio, a Kahuku resident and member of the group, said group members are positive.

"Positive in the sense that it seems both parties are willing to agree to something but what that something is, we don't know yet," Primacio said.

Reach Eloise Aguiar at eaguiar@honoluluadvertiser.com.