The Hawaii Supreme Court had ruled in August that all construction of the Honolulu Rail Project needed to be halted until an accurate archaeological survey was completed for the entire 20 mile stretch. In a new report released by the Honolulu Authority for Rapid Transportation the costs associated with the court-ordered stoppage will be more than $114 million in claims, change orders and other expenses. It should be noted however, that there may be “additional cost impacts due to escalation for future contracts and extended agency and consultant staffing.”
The city is working around the clock to complete an archaeological survey, but it is still expected that the survey will not be finished until the March or April 2013. Executive Director of the Honolulu Authority for Rapid Transportation, Daniel Grabauskas, noted that the Honolulu Rail Project has a $644 million contingency fund to cover these unexpected costs.
Source: Honolulu Star Advertiser, 10-11-2012, 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
