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5/12/2014



Rail News: Passenger Rail

HART secures more tax revenue for Honolulu transit-rail project


The Honolulu Authority for Rapid Transportation (HART) received $61.7 million in first-quarter General Excise and Use Tax (GET) surcharge revenue for construction of the Honolulu transit-rail project.

"We now have a total of $1.25 billion in surcharge revenue collected for rail," said HART Executive Director and Chief Executive Officer Dan Grabauskas in a press release. "Strong GET surcharge revenue, along with the $1.55 billion in secured federal funding, is keeping us on the right track to deliver the project on budget."

The half-percent GET surcharge for Oahu, which by law can only be used for Honolulu's rail system, began in January 2007 and is set to expire at the end of 2022. The surcharge is estimated to fund nearly 70 percent of the project's cost, with the remaining balance to covered by federal funds, HART officials said.

When completed, the 20-mile, 21-station Honolulu Rail Transit line will transport riders to West Oahu, Pearl City, Aloha Stadium, Pearl Harbor Naval Base, Honolulu International Airport, downtown Honolulu and Ala Moana Center.



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