Review: Honolulu has financial capacity for rail

By Associated Press

POSTED: 06:05 p.m. HST, Oct 04, 2012
LAST UPDATED: 06:39 p.m. HST, Oct 04, 2012

HAWAII DEPARTMENT OF TRANSPORTATION

In this July file photo, the first column of Honolulu’s rail transit project at Kapolei was revealed when the concrete forms were removed.

Rail Financial Capacity Report

A consulting company’s review says Honolulu has the financial capacity to build and operate a rail line from Kapolei to Ala Moana Center.

Porter & Associates, Inc. prepared the report last month for the Federal Transit Administration.

The report says Honolulu’s operating and capital financial plans for rail are based on reasonable assumptions regarding future costs and revenues.

But the report cautions Honolulu’s general fund and highway fund expenses must grow at slower-than-historical rates in order for the city to be able to subsidize the rail line.

The report says the city could withstand a 10 percent increase in the rail line’s cost and survive a lower growth rate for the general excise tax.

The Honolulu Authority for Rapid Transit issued a press release on the report today.

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honopic wrote:

BEE ESS. Who hired the consulting company and what are their qualifications? "Consult" with most of the people of Oahu and you will get a different result.

on October 4,2012 | 06:28PM

lee1957 wrote:

I'm glad Honolulu has the financial capacity for rail because I don't.

on October 4,2012 | 06:35PM

ejkorvette wrote:

YEAH, YIPPPEEEEE, YAHOOOOO, WOOOO HOOOOO, LUCKY YOU LIVE HAWAII. Hawaii will be a 3rd World State sooner than expected, Thanks to the INCOMPETENT, INEPT, CORRUPT, BUFFOONS IN POSITIONS OF AUTHORITY!!! LUCKY LUCKY YOU LIVE HAWAII!!

on October 4,2012 | 06:40PM

niimi wrote:

Conclusion: The Excise Tax increase will remain perpetual in order to pay for the grossly underutilized steal on steal rail system.

on October 4,2012 | 06:47PM

Maneki_Neko wrote:

Honolulu’s...... highway fund expenses must grow at slower-than-historical rates in order for the city to be able to subsidize the rail line. In other words the City will spend even less on keeping up roads and streets. Think the roads are 3rd world now.....wait until the City has to subsidize rail by stealing from the roads budget. We already saw what happened with the raid on the Bus funds!

on October 4,2012 | 07:12PM

Venus1 wrote:

I am supporting Kirk!! I believe he represents the future!!! Ben, while meaning well is the past!!!!! So obvious!!! Your children will thank you!!!!!!

on October 4,2012 | 10:38PM