Mayor Peter Carlisle has signed into law a bill that will allow the Honolulu Rail Project to have an additional $450 million line of credit as a cushion in the event that they run out of money for an unexpected reason. Supporters for the rail project assure the public that it is “highly unlikely” that this money will ever be used and it is more so designed to help secure federal funding from the Federal Transit Administration. In fact, Mayor Carlisle went as far as saying that “the likelihood is next to zero.” However, opponents to the rail project question how the loan would be repaid if it does get used, as the Honolulu Authority for Rapid Transportation does not have a clear source of income to repay the credit line.
Source: Honolulu Star Advertiser, 6-16-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
