Rail Price Drops Again In New Draft Financial Plan
UPDATED 10/7 3:30 p.m.
A new version of the financial plan for the Honolulu rail project has been produced, and the cost projections are down — again.
Construction of the rail system is now projected to cost $5.174 billion, down $143 million from the $5.317 billion figure found in the April 2011 draft. An earlier financial plan submitted with the Final Environmental Impact Statement in August 2009 had the cost projected at $5.513 billion.
None of those figures include operations and maintenance. It's expected that it will cost $1.3 billion more to run the system through 2030. That number did not change in the updated plan.
The city is waiting for final approval from the Federal Transit Administration and $1.5 billion in federal grants before starting construction in earnest. Meantime, it's doing preliminary construction work and this week started archaeological inventory work in the downtown area.
The September 2011 draft financial plan for entry into final design came up during the Honolulu Authority for Rapid Transportation meetings Thursday morning. HART then provided the document to Civil Beat.