Background info: In Hawai'i there are predominantly rich people who have signed contracts agreeing to the conditions of renting the land which their home or condo sits. They turn around and use imminent domain to try to get the City and County of Honolulu to fund these conversions which of course is questionable. Also... why should we fund the rich? Also these rich people specifically target Hawaiians as Kamehameha Schools which is an entity that funds the only school for Hawaiian children called Kamehameha Schools. This entity owns lands given to it by Princess Keelikolani. Its beneficiaries are Hawaiians.
So? What is happening and has happened in Hawai'i CAN happen to you or to someone whom you know. That is, a rich person can force YOU to sell your private property because they want it... using imminent domain. That is... what is happening in Hawai'i CAN be used as a precedent for other rich people who want to force you to sell your property.
ANYWAY this writer hit the nail on the head:
'Just compensation' for conversion a myth
Letter writer Mary H. Shelton ("Just compensation in leasehold conversion," Sept. 6) argues that our ali'i trusts would not lose an income stream when their leasehold interests are condemned through Chapter 38 since just compensation received for the leased fee interest could be invested and the fee owner will continue to have an income stream.
Ms. Shelton should familiarize herself with the King William Charles Lunalilo Trust Estate. After the king died in 1874, his will required his trustees to sell his land and invest his money prudently. Those investments went sour, and today the Lunalilo estate has no assets other than Lunalilo Home in Hawai'i Kai and the land under it, and the trust must constantly raise funds to maintain the operation of the home. The kicker is that Lunalilo left an estate even larger than the one left by Princess Bernice Pauahi Bishop, founder of Kamehameha Schools.
Turning Ms. Shelton's argument on itself, leasehold renters should take the money they would use to pay for the leased fee interest and invest it wisely. They could then use that money to buy fee simple property, rather than asking the government to help them take property they knew from the beginning was not theirs for the taking.
New York City
Seen at http://the.honoluluadvertiser.com/current/op/letters