Honolulu rail project GM says costs lower than expected

HONOLULU — Honolulu's Rail Transit Project GM Toru Hamayasu said that the project is both on track and less expensive than expected, according to a KITV report.

In addition to revenues from the general excise tax, now expected to be $3.3 billion over the next 20 years, the project shaved off $200 million from the cost officials reported in a financial plan submitted to the Federal Transit Administration, reducing the cost from $5.5 billion to $5.3 billion. For the full story, click here.