Report: Hawaii gov't approves Turtle Bay acquisition plan

The Hawaii Legislature has given approval to Gov. Linda Lingle's proposal to buy the Turtle Bay Resort, according to a Web report from Pacific Business News.

The bill offers $250,000 to help with negotiations with potential buyers, the report said.

In Lingle's State of the State address in January, she proposed buying the resort and surrounding land in an effort to prevent further development.

Turtle Bay is owned by Kuilima Resort Co., a subsidiary of Los Angeles-based Oaktree Capital Management.


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