City Council committee to meet Thursday, May 12 on rail budget, funding
HONOLULU — On Thursday, May 12, the Honolulu City Council Committee on Transportation and Transit Planning will meet to discuss a revised financial plan for rail on Oahu. The original plan was submitted in August 2009.
The draft financial plan contains figures on the costs of building, operating and maintaining the rail system on Oahu though the year 2030. The 68-page document indicates that just 29 percent of funding for the project will come from the federal government. The rest of the funding will come from the General Excise Tax Surcharge, which began in 2007. The City projects the .5% surcharge will generate $3.7 billion in revenue between the 2007 and 2023 fiscal years.
The City encourages anyone interested in the future of rail on Oahu to attend and testify at the Thursday meeting. Citizens and taxpayers wishing to testify may register here. Written testimony can be submitted here.
To view Honolulu High-Capacity Transit Corridor Project Draft Financial Plan for Entry into Final Design, click here.