3 replies to this topic

[CNJRoss]

KITV Honolulu, HI 11/17:

 

FTA on rail: Show us the money

 

HONOLULU - Crews are to hit another construction milestone with the fifth mile of fixed guide way completed this week.  But, the mayor is nervous.

 

This is also the month the city would have received $250 million in federal funding.    Federal officials are worried because the Honolulu City Council has yet to take a final vote on extending the excise take for five years to help pay for it.

 

"They are worried now. They are saying show us the money. Show us you are committed to build what you promised to build, and are legally obligated to build," said Caldwell.

 

Continue here.

[CNJRoss]

KHNL/KGMB Honolulu, HI 4/6:
 

Rail officials: Tax extension may not be enough to cover project's rising costs

 

HONOLULU (HawaiiNewsNow) - Just three months after the Honolulu City Council approved a five-year extension of the general excise tax, top rail transit officials acknowledged that extra money may not be enough to pay for Honolulu's rail project.

 

Completion of Oahu's rail project is already two years behind schedule and the cost has risen to roughly $6.5 billion -- an increase of more than a billion dollars.

 

On Tuesday, during a budget hearing, City Council members grilled rail officials about whether they can cut costs.

 

Continue here w/video report.

[KevinKorell]

HONOLULU — The Federal Transit Administration said in a letter to Mayor Kirk Caldwell that it would give the city until December 31 rather than August 7 to come up with ways to bridge the funding gap for its light rail project, reports the Hawaii Tribune Herald.

The administration and city have a $1.55 billion funding agreement for the rail project, with costs estimated at around $1.5 billion over budget. In June, the total project was estimated at $8 billion.

Related: Honolulu takes delivery of first railcar

Caldwell had wanted a June 2017 deadline, after the upcoming election and legislative session. He has also suggested shortening the route to stay within budget. For the full story, click here.

Keywords

budget shortfalls   cost overruns   FTA   Honolulu Authority for Rapid Transportation   light rail projects   Mayor Kirk Caldwell   

 

Follow @lctmag on Twitter

View the full article

[CNJRoss]

AP via Tribune-Herald, Hilo, HI 7/24:
 

Honolulu gets more time for rail cost plan

 

HONOLULU (AP) — Honolulu is under a loosened federal deadline to find ways to fully fund its multibillion-dollar rail project.

 

The Federal Transit Administration said in a letter to Mayor Kirk Caldwell that it would give the city until Dec. 31 rather than Aug. 7 to come up with ways to bridge the project’s funding gap.

 

The administration and city have a $1.55 billion funding agreement for the rail project.

 

Continue here.