RELATED: Honolulu rail project gets go-ahead to issue bonds to prevent shut down
Honolulu legislature to hold special session on rail project funding
The project was expected to cost $5.2 billion just a few years ago but is now estimated to cost as much as $10 billion with financing. The city’s latest figures project a $1.384 billion shortfall from now to 2024.
June 20, 2017
ErgoSum88
1 min to read
HONOLULU — State legislators plan to convene a special session in July or August to attempt to reach a deal on how to fund the remainder of Honolulu’s 20-mile rail project, which is billions of dollars over budget, the Honolulu Civil Beat reports.
Top officials from the Senate and House wrote a joint letter to FTA Executive Director Matt Welbes to assure federal officials of the Legislature’s commitment to meet later this summer after ending in a stalemate in May. The FTA could withhold funds, particularly if the rail line has to stop short of its plan to go from Kapolei to Ala Moana Center.
The project was expected to cost $5.2 billion just a few years ago but is now estimated to cost as much as $10 billion with financing. The city’s latest figures project a $1.384 billion shortfall from now to 2024, which is up to $200 million more than what the city had provided during the regular session. For the full story, click here.
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