Informing the Legislature that on July 8, 2026, the Governor signed the following bill into law: SB2001 SD1 HD2 CD1 (ACT 206).

This bill establishes the Banyan Drive Community Development District in Hawaii to revitalize the Waiakea peninsula, an area facing issues like blight and poor infrastructure. The legislation creates a special fund to provide consistent financial resources for the state agency responsible for managing the district, ensuring long-term maintenance and improvement. Under the new district, development must prioritize preserving Hawaiian cultural and historic sites while encouraging diverse land uses and private investment. The defined boundaries include lands near Wailoa River, Kalanianaole Street, and Reeds Bay, as well as Moku Ola, or Coconut Island. Ultimately, the act aims to transform the area into a center for cultural enrichment, public facilities, and sustainable economic growth.