The Honolulu Authority for Rapid Transportation (HART) has submitted a Recovery Plan for the Honolulu Rail Transit Project to the Federal Transit Administration (FTA).
The Recovery Plan includes an updated project Financial Plan which is based on the recent deliberations and actions of both the State and City governments to provide additional local funding for completion of the construction of the project to Ala Moana Center.
“Thank you to the many members of our HART staff who worked diligently and professionally to make sure HART would meet the FTA’s deadline for submittal of our Recovery Plan,” said HART Executive Director and CEO Andrew Robbins.
The total project cost included in the plan remains at $8.165 billion for capital costs exclusive of finance charges, with full revenue service scheduled for December 2025. Financing charges of $858 million are also projected, bringing the total project amount to $9.023 billion, including contingency. The revenue to cover the cost will come from the federal funds as outlined in the project’s Full Funding Grant Agreement, receipt of the county surcharge on the state General Excise Tax, one percent of the state Transient Accommodations Tax, and a subsidy from the City and County of Honolulu.
“This updated Recovery Plan lays out the local funding now available to meet the current cost estimate and complete the project,” Robbins said. “In addition, it shows that HART has put in place the controls and procedures, robust risk management and cost containment measures that, in addition to the funding, are needed for the recovery of this exciting and important project for Honolulu.”
The Recovery Plan is available on the project website at www.honolulutransit.com.