The Federal Transit Authority has decided to delay its decision about whether or not they will be awarding federal funds to Honolulu for the rail system. According to city officials, the FTA stated that they would like to see what happens during the November Mayor election before making a decision. Former Governor of the state of Hawaii, Ben Cayetano, is running for mayor under an “anti-rail” platform and has firmly stated that if elected he would do everything in his power to end the rail project. However, Mayor candidate Kirk Caldwell has stated that he would support rail if he were elected.
The city is expecting a total of $1.55 billion in federal funding from the Federal Transit Authority for the rail project. It was originally anticipated that the FTA would finalize an agreement by the end of October, but that is now no longer the case. Spokesman for the FTA, Brian Farber, stated, “We look forward to signing a full funding agreement by the end of the calendar year, barring any unforeseen complications.”
Source: Honolulu Star Advertiser, 9-21-2012, 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
