The state land board voted 6-1 Friday to move forward with the acquisition of the Wahiawā Reservoir from Dole Food Co., the first step in a multi-pronged deal that will put the cost of repairing the Wahiawā Dam on the backs of taxpayers.
Dole has claimed in recent years that it cannot afford to pay the more than $20 million it would cost to bring the dam into compliance with modern safety standards even as its parent company averaged $120 million in annual net income over the last three years and made payments to shareholders.
The 120-year-old earthen dam is considered hazardous, in part because of an undersized spillway that Dole refused to repair. The public safety issues were underscored when last week’s storm brought water levels in the dam within three feet of its crest, triggering evacuation orders for an already flooded North Shore as officials worried that it would fail.
Once the transaction to acquire the dam and reservoir is complete, liability for the dam will transfer to the state…