RELATED: Feds extend deadline for Honolulu rail recovery plan
Honolulu rail project gets go-ahead to issue bonds to prevent shut down
HART officials said the project would run out of money in January without a cash infusion, and without the bonds, it would have to begin shutting down operations this August.
June 12, 2017
Musashi1600
1 min to read
HONOLULU — The Daily Progress reports that the City Council approved a bill to allow the Honolulu Authority for Rapid Transportation (HART) to issue bonds for its financially-troubled rail transit project to keep it afloat through the end of the year.
HART officials said the project would run out of money in January without a cash infusion, and without the bonds, it would have to begin shutting down operations this August.
The project, with cost estimates up to $10 billion, faces a funding shortfall of as much as $3 billion after the State Legislature ended its session without agreeing on a way to fully fund it. The planned 20-mile, 21-station rail line is intended to alleviate traffic from Oahu's West side. For the full story, click here.
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