Post by Logan on May 11, 2016 7:48:54 GMT -6
HONOLULU (AP) — Federal officials are holding back a half-billion dollars slated for Honolulu’s rail project.
The Federal Transit Administration blocked release of the past two fiscal years’ worth of funds as the wait continues for an updated financial plan covering current cost estimates as well as a new project schedule.
The administration said in a statement that it needs to approve the plans before releasing funds under a grant agreement.
The rail project is working with federal transit officials to update the financial plan and schedule.
Honolulu Authority for Rapid Transportation spokesman Bill Brennan said about $30 million remaining from fiscal year 2013 and untouched 2014 funds are available to pay the project’s bills.
Read more: www.hawaiitribune-herald.com/news/state/500-million-federal-funds-withheld-rail-project
The Federal Transit Administration blocked release of the past two fiscal years’ worth of funds as the wait continues for an updated financial plan covering current cost estimates as well as a new project schedule.
The administration said in a statement that it needs to approve the plans before releasing funds under a grant agreement.
The rail project is working with federal transit officials to update the financial plan and schedule.
Honolulu Authority for Rapid Transportation spokesman Bill Brennan said about $30 million remaining from fiscal year 2013 and untouched 2014 funds are available to pay the project’s bills.
Read more: www.hawaiitribune-herald.com/news/state/500-million-federal-funds-withheld-rail-project