Toru Hamayasu says his meeting this afternoon with Federal Transit Administration chief Peter Rogoff was a “productive” one, and that the Honolulu Authority for Rapid Transportation is ready to work with the FTA to secure federal funding.

“I assured Administrator Rogoff that we will continue to work together in the coming months to meet all of the requirements – including strengthening our financial plan—so that we are able to enter into the Full-Funding Grant Agreement on time,” Hamayasu said in a written statement provided by a HART spokeswoman.

Responding to questions about the FTA letter sent last week instructing HART to strengthen its financial plan, Hamayasu said the city’s existing financial plan already includes several possibilities for additional revenue sources.

He specifically pointed to public-private partnerships for some station construction as well as “value capture,” an idea that would levy special property taxes or development impact fees in the areas around the rail line.

More coming soon on rail finances.