The Federal Transit Administration (FTA) has given the city and county of Honolulu a “letter of no prejudice” which allows the city to spend up to $184.7 million in construction costs and other activities for the Honolulu Rail Project. The rail line will run from Ala Moana Shopping Center to Kapolei and will cost an estimated $5.27 billion, out of which the state hopes that the federal government would contribute $1.55 billion. United States Senator Daniel Inouye showed his support for the project by stating, “We have debated and discussed a rail transit plan for Oahu for decades, and I am very pleased that the administration is allowing the city to proceed with construction. Too many hard working families on the West side of the island spend too much of their time stuck in traffic. This project offers an alternative to driving and helps lessen our dependence on imported fossil fuels.”
Opponents to the rail project are quick to point out that the “letter of no prejudice” does not guarantee that there will be any federal funding. The rail project would still have to receive final approval from the Federal Transit Administration. That approval is expected to be given in the fall of 2012.
Source: Honolulu Star Advertiser, 2-7-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
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