RELATED: Tax extension may not be enough to pay for rail project
Honolulu rail project costs could reach $9.5B
The high figure is based on a scenario in which the general excise tax surcharge for the rail gets extended another 10 years at the same 0.5% rate.
December 6, 2016
HART
1 min to read
HART
HONOLULU — Honolulu Authority for Rapid Transportation officials say that depending on financing costs, the light rail system could cost as much as $9.5 billion, West Hawaii Today reports.
The higher price tag is just an example of how much the rail could cost depending on how the city ultimately decides to pay back bonds and interests on the project. The high figure is based on a scenario in which the general excise tax surcharge for the rail gets extended another 10 years at the same 0.5% rate.
In September, HART officials estimated the system would cost $8.6 billion, with that figure including about $400 million in financing and debt service costs. For the full story, click here.
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