11:24 AM EDT, 10/28/2024 (MT Newswires) -- Maui Land & Pineapple ( MLP ) said Monday it signed a memorandum of agreement with Hawaii's Department of Transportation to lease land and administer the construction of improvements required to support temporary homes for individuals and families displaced by the August 2023 Maui wildfires.

The company will lease about 50 acres of vacant land to the state in an area known as Honokeana near Napili in Lahaina, Maui, at no cost for five years, plus the duration of time required to construct the temporary homes, according to a filing with the US Securities and Exchange Commission.

The state has agreed to fund all costs to complete the project, including about $35.5 million to complete the necessary horizontal improvements, the company said.

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