The state Department of Transportation has awarded a $300,000 contract to Infrastructure Management Group to do an economic analysis, financial assessment and evaluation of Honolulu’s planned $5.5 billion rail transit project.

The contract requires IMG to provide its analysis within a three-month period, however, that deadline depends on the accessibility and availability of the information from the city.

Gov. Linda Lingle has requested the city provide IMG an updated financial plan for the project. The last financial report issued for the project was published in August 2009.

Lingle has acknowledged that the financial analysis may not be completed before she leaves office Dec. 6 and that it may be more appropriate for her successor to decide whether to approve the project.