[§206J-5.5]  Partnership with department of transportation for Honolulu harbor.  (a)  Consistent with its general powers under this chapter, the development corporation may undertake projects for Honolulu harbor and its adjacent lands, which are under the jurisdiction of the department of transportation.  Notwithstanding any provision in section 206J-17 to the contrary, payments to the development corporation for its administrative and operational expenses shall be made by the department of transportation and deposited into the Aloha Tower fund in a subaccount designated for the particular development project.

     (b)  All appropriations for the development of Honolulu harbor by the development corporation shall be received and administered by the department of transportation.  The department of transportation shall retain fiscal management and oversight of all project cost expenditures, budget, and contract approvals.

     (c)  Subject to existing contractual and statutory commitments to the department of transportation for any losses in revenue under this chapter, the development corporation may apply any revenues derived from commercial development projects in the Aloha Tower project area to defray the cost of harbor infrastructure improvements incurred within the State. [L 2007, c 127, §2]