$1.5 Billion Budget for Cayetano's Honolulu Traffic Proposal10/03/2012
Editor's Note: The Cayetano campaign sent us corrected budget numbers on Wednesday morning after this story was published. This version reflects the new figures, which brings the total for the proposal to $1.5 billion, not $1.8 billion as previously reported. That's still an increase from the $1.1 billion released earlier.
The former governor’s advisers say the new figure is supposed to be a more accurate comparison to the $5.26 billion rail budget because it includes money for contingency funds as well as the cost of financing.
It also assumes significant contributions from state and federal government as well as from the general excise tax collections that have been paying for rail.
Cayetano is expected to release a full budget for his transportation plan later this week, which will be the first time anyone outside of his inner circle will get a detailed glimpse into the numbers that support his transit alternative.
On Tuesday, Civil Beat received a brief preview of the budget from Cayetano’s transportation guru, Panos Prevedouros, a professor of civil engineering at the University of Hawaii.