Ka Wai Ola - Office of Hawaiian Affairs, Volume 29, Number 12, 1 December 2012 — Welcoming a transition [ARTICLE+ILLUSTRATION]

Welcoming a transition

As2012comesto an end, I reflect onmy 12years as a trustee and as the chair for the Committee on Asset and Resource Management for the majority of those years. As I look forward to stepping down as the ARM chair this month and to my final two years at OHA, I want to share

my thoughts with you. First, I feel it is a good time to step down as ARM chair in order to provide a transition period for the new ARM chair, and for me to wrap things up as I will not seek re-election in 2014. During my time at OHA, I have worked with many who have eontributed to the change that has occurred since my tenure began. While many are no longer at OHA, there are still a few "old-timers" who continue the work. I want to especially thank these "old-timers" as they have made a big impact on the work done at OHA, and they deserve a big mahalo. First and foremost, I want to thank Haunani Apoliona for her 10 years of chairing the Board of Trustees - many of those years during some of OHA's most tumultuous times. She, along with our former CEO, Clyde Nāmu'o, worked diligently with the majority trustees and with staff to establish policies and procedures that contributed to OHA becoming a better organization as we heeame more credible in the broader eommunity. OHA has improved mueh from my beginning days here. OHA's management structure saw changes as it converted from operating as a government systemto that of a corporate system. Although still a quasi-state agency, OHA is run more efficiently in its management processes, whieh provides for improved implementation and transparency of operations. Updated technology broadens OHA's reach through our updated Ka Wai Ola publication and OHA's new userfriendly website.

OHA's investment portfolio has grown geometrically over time; and in spite of state budget cuts, the portfolio ineome has allowed OHA to continue operations and expand programs that improve the quality of life for our beneficiaries. Where onee OHA granted approximately $800,000 annually to

nonprofit organizations serving Hawaiians, in recent years we have awarded over $18 million in grants. Within the last 12 years, OHA has acquired over 27,600 acres of land, including the legacy lands of Waimea Valley and Wao Kele o Puna. The acquisition of the Kaka'ako Makai lands has the potential to generate ineome of over $25 million annually; the Gentry Design Center purchase will generate positive cash flows of approximately $2 million per year and will save OHA more than $80,000 monthly in rent at our current location. Contrary to community buzz, OHA's move to Gentry is temporary; permanent corporate headquarters will be built on its Kaka'ako lands. These land acquisitions, coupled with OHA's investment portfolio, have improved OHA's halanee sheet to a net worth of over $600 million. While I will miss chairing the ARM Committee, I look forward to working with the new ARM chair and the new OHA Board of Trustees. I want to thank my trustee aide, Eei-Ann Durant, who singlehandedly did yeoman's work in managing the ARM Committee alongside me while performing her other office duties with ease and grace. With a staff of one, I was able to save the agency approximately $500,000 in personnel costs; and for a money man, that is big. May the good Ford bless and guide you during this holiday season and throughout the New Year. It has been more than a pleasure to serve you, and I look forward to serving you in the next two years. ■

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