"Without the entire $1.55 billion the federal government committed, the city would have to consider other, more painful, financing options in order to complete the project to Ala Moana, including increasing real property taxes or reducing funding for programs and services our constituents need, or both."

The above says that without the $1.55 billion from the feds, the City will need to increase property taxes or REDUCE FUNDNG FOR PROGRAMS AND SERVICES OUR CONSTITUENTS NEED.  Such a profound statement from the City Council Chair.  Since when does it make sense to cut funding for something that you "need" in order to fund something that you don't?  All for an "alternative" traffic option which won't impact traffic and where the Mayor himself said he didn't know how much the project would cost.  There's a saying "If you have to ask how much something will cost you probably can't afford it".  Seems these politicians never learned that lesson.