Financial Analysis of Honolulu Rail Released for Review

By Wendy Osher

An independent financial report on the proposed Honolulu Rail Transit Project is now available for review.  Governor Linda Lingle transmitted the report yesterday to Honolulu Mayor Peter Carlisle, Governor-Elect Neil Abercrombie and Council Chair Nestor Garcia.

“I am confident these officials will appreciate the need to fairly assess the economic impact of this proposed rail project on Hawai‘i taxpayers today and for generations to come,” said Governor Linda Lingle.

The report, compiled by Infrastructure Management Group, was ordered to provide an objective assessment of the overall financial impact of the project on Hawaii taxpayers.  The report includes an economic analysis, financial assessment and evaluation of the rail project.  The cost of the review was about $350,000, and was paid for through the State Highways Fund.

The Governor’s office claims that while the project would receive some federal funding, taxpayers would pay for most of the costs to build, operate and maintain the system.

*** If you enjoyed this post, you may also like our previous story on the push for Transparency by the DOT for Honolulu Rail.