"Yes" votes had a wide lead Tuesday in the ballot count for a state constitutional amendment measure giving counties a new way to pay for sewer, water, drainage and other infrastructure. The measure gives the counties the authority to issue bonds to pay for the infrastructure in a defined district. The bonds would be paid off by higher property tax revenue generated by the redeveloped area.
Supporters say the measure is needed to help counties pay for badly needed investment to alleviate the state's severe housing shortage.
"Yes" votes accounted for 64.5% of all ballots on the measure, according to the first results printout for the general election. "No" votes came in at 39.5% and blank ballots 9% Under state law, blank ballots are treated the same as "No" votes when it comes to state constitutional amendments.
The bonds would use what is called tax increment financing. Hawaiʻi lawmakers, when drafting the ballot question, called them resilient infrastructure for shelter and equity bonds, or RISE bonds.
Lawmakers said if the measure passed, the state and counties would establish programs for the bonds while safeguarding county fiscal health and promoting affordable housing goals.
Unionized carpenters, developers and Hawaiʻi real estate agents helped fund an ad campaign backing the ballot question.
The political action committee RISE Together Hawaiʻi raised nearly $2.5 million from these groups as of mid-October.
