Hawaii’s congressional delegation has announced that they have secured $1.55 billion in federal funding for the Honolulu Rail Project. The final commitment will take place with the signing of a Full Funding Grant Agreement, which should occur by the end of the year. Once signed the city would received $200 million in federal funding for their 2012 budget and additional $230 to $250 million per year over the next five fiscal years. United States Senator Daniel Inouye stated, ”This is an important step toward providing federal funding for the Hono lulu rail transit project. By providing a new option for Oahu commuters to avoid traffic congestion, rail will save families time and money and will reduce pollution in the air we breathe. I look forward to the rail project’s completion.”
Rail opponents still warn that that the project still faces lawsuits in state and federal court and hope for continued injections preventing construction work from proceeding. However, Executive Director for the Honolulu Authority for Rapid Transportation, Daniel Grabauskas, believes that these legal cases would not stop the rail project. Grabauskas stated, ”No roadblocks have been put in our place as a result of the court cases. Perhaps a detour and a little extra work we need to do, but no roadblock. That’s ultimately what the FTA was able to determine. Therefore, they were able to say, ‘We’ve already looked at your cost and schedule base line, and it’s in very good shape.’”
Source: Honolulu Star Advertiser, 11-20-2012, 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
