Saying “it has become clear that we need to take action to move forward on this important facility,” Gov. David Ige on Monday signed into law legislation to begin funding a replacement for deteriorating Aloha Stadium.

The stadium will shortly begin its 45th football season and estimates of when a new facility could be opened for business currently revolve around 2024, depending on details of planned public-private partnerships, some officials have said.

Work on an environmental impact statement and master plan has already begun and could be completed in 18 months, said Curt Otaguro, state comptroller and director, Department of Accounting and General Services.

After that comes a request for proposals from prospective developers of the 98.6-acre Halawa site, which is to be known as the New Aloha Stadium Entertainment District and overseen by the Stadium Authority and the Hawaii Community Development Authority.

Gov. Ige said, “I think that we have realized that it is very difficult for us to just flat-out invest in a stadium facility, so we look forward to this as kind of a new venture moving forward.”

The legislation provides for $350 million — $50 million in general revenue, $150 in general obligation bonds and $150 million in reimbursable general obligation bonds. Proceeds from the latter would be directed to reimburse the state general fund costs, including interest and principal, on the bonds.

While land adjacent to the current stadium has been the preferred site for the new stadium, officials said that could change to elsewhere in the general footprint depending on the eventual partners in the deal.

“There is a lot of hard work ahead of us, but I think we can build a world class sports and entertainment (facility) that Hawaii can be proud of,” said Ross Yamasaki, chairman of the Stadium Authority.

Officials thanked two prime movers of the bill, Rep. Sylvia Luke and Sen. Donovan Dela Cruz, chairs of the key House Committee on Finance and Senate Committee on Ways and Means.