Honolulu withdraws from $9B rail P3 procurement

Dive Brief:

  • Honolulu Mayor Kirk Caldwell has withdrawn the metropolis from participation in a general public-private partnership (P3) for the last four-mile leg of the $nine billion Honolulu Rail task, Honolulu Civil Beat noted. As element of his announcement, Caldwell also claimed that he has notified the Federal Transit Administration (FTA), which is furnishing $1.5 billion for the task, of his determination. 
  • Caldwell did not condition specifically what was driving his determination, but the metropolis experienced budgeted $1.four billion, and one particular bidder, Tutor Perini, reported through a recent earnings call that its proposal for finishing the task was more than $two billion and that there ended up only two bidders. The Honolulu Authority for Rapid Transportation (HART), which is leading the procurement, has not released any information and facts on the bidders or their proposal quantities.
  • The metropolis was a joint lover in the procurement with HART, and it
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