Requesting The Office Of Planning And Sustainable Development, In Coordination With Appropriate State And County Departments Or Agencies, To Develop Methods To Estimate Costs Associated With Delays In Certain Public And Private Development Projects.
HCR60, a House Concurrent Resolution introduced in the Hawaii Legislature, addresses the issue of estimating costs associated with delays in both public and private development projects. The resolution requests the Office of Planning and Sustainable Development to collaborate with various state and county departments to develop methods that accurately estimate these costs, highlighting the complexities and financial implications that arise when projects face delays. This request aims to ensure that decision-making authorities have comprehensive information for evaluating projects, which is essential for the effective allocation of resources and taxpayer money.
One significant aspect of HCR60 is its recognition of how project delays can lead to increased costs, impacting labor, materials, and overall project feasibility. By proposing to incorporate delay-related cost estimates into decision-making processes, the resolution emphasizes the importance of updated cost-benefit analyses. This ensures that the financial implications of delays do not invalidate prior assessments and that stakeholders are equipped to make informed choices based on accurate financial forecasts.
The resolution also aims to improve the process by which information on costs incurred due to delays is shared among relevant authorities. It calls for amendments to existing budget request forms and permit applications to facilitate better communication about these costs. This initiative could streamline reporting and provide greater transparency during project approvals, potentially minimizing the taxpayer burden resulting from unforeseen financial increases.
Overall, HCR60 reflects an effort by lawmakers to enhance project management practices within the state. The resolution highlights the necessity of thorough planning and informed decision-making in fostering sustainable development. If the recommendations in the resolution are put into effect, it may lead to more efficient handling of public funds and improved outcomes for both public and private development initiatives in Hawaii.