The roughly 22,500 acres of Dole land could cost from $175 million to $200 million. Dela Cruz suggests the state could float general obligation or revenue bonds to finance the purchase, with farmers and other tenants paying back the bonds.
From Dela Cruz:
As we increase the State’s inventory of agricultural land, we provide the opportunity for farmers to expand their business or encourage new farmers into the industry. We also enable the increase of diversified agriculture and allow for self-sufficiency. We want to demonstrate that farming is an attractive profession, agriculture is revenue generating, and that there is a career in agriculture. We hope to see a new generation of farmers.