NOTICE OF PUBLIC AUCTION
Notice is hereby given that the State of Hawai`i, Department of Transportation, Airports Division ("State") shall conduct a public auction for a lease of land, located at Lana`i Airport (“LNY”), Lana`i City, Hawai`i , Island of Hawai`i, State of Hawai’i.
A. Time and Place of Auction. The Public Auction shall be conducted at the Management Office of LNY, One Airport Road, Lana`i Avenue, Lana`i City, Hawai`i 96763, on Friday, October 19, 2018, at 10:30 AM.
B. General Description and Location of the Land. Approximately 23,832 square feet of airport land at LNY, Lan`i City, Hawai`i 96763.
C. Term and Use. The term of the Lease shall be thirty (30) years, commencing upon the execution of the Lease document. The Premises shall be used for the development, construction, maintenance and operation of an air cargo facility or any other airport-related purpose permitted by law and approved of in writing by the State.
D. Upset Rent. The minimum upset annual rent for the first five (5) years shall be FORTY-ONE THOUSAND NINE HUNDRED FORTY-FOUR AND 32/100 DOLLARS ($41,944.32), or the highest bid, whichever is higher. For the lease years six through ten, eleven through fifteen, and twenty through twenty-five, the annual rental shall be $115% times the annual rental for years ten, fifteen, and twenty, respectively. The annual rental shall be reopened for the 16th and 26th years of five (5) years each in accordance with Section 171-17 (d) of the Hawai`i Revised Statutes. The rental amount shall be due and payable in monthly installments, in advance for the term of the lease.
E. Availability of Documents for Inspection The Notice of Public Auction and Instructions to Bidders (the “Public Auction documents”) are available for public inspection during business hours (7:45 AM to 4:30 PM, Monday through Friday, except holidays) at the office of LNY’s Management Office, One Airport Road, Lana`i Avenue, Lana`i City, Hawai`i, or available for public inspection and be obtained from the Airports Division website at www.hawaii.gov/dot/airports/doing-business.htm, or from the Department of Transportation, Airports Division, Property and Business Development Office located at the Daniel K. Inouye International Airport, Inter-Island Terminal Building, 400 Rodgers Boulevard, Suite 700, Honolulu, Hawai`i 96819-1880. A copy of the Public Auction documents may also be purchased upon the tender of the non-refundable sum of FORTY AND N0/100 DOLLARS ($40.00) in United States currency or certified check. The Public Auction documents are subject to revision at any time prior to the Public Auction. All persons who have purchased the Public Auction documents will be notified of and provided copies of such revisions, if any.
F. Bidding. Each prospective Bidder will be required to complete the Bid Intent Package that requires submission of financial statement(s), and other documents, and submit the same to the State, at the Property and Business Development Office, no later than 4:00 PM on Friday, September 21, 2018. The questionnaires, included as part of the Bid Intent Package will be considered confidential and will not be made available for inspection by the general public.
Any qualified individual, corporation, limited liability company, partnership, joint venture or other entity may bid at the Public Auction after timely submission of an acceptable Bid Intent Package.
G. The State reserves the right to cancel this Public Auction, or to postpone or continue same from time to time, as it may deem necessary, by publication of notice to that effect or by public announcement at the time scheduled therefore.
JADE T. BUTAY
Director of Transportation