So far, train tax collections aren't hitting their forecast goals.

Honolulu transit tax collections fell about 5 percent to an estimated $160.9 million in the 12 months ended June 30 as the local economy weakened.

That was $27.1 million below what the city had projected it would collect over the period.

In July, the tax raised $12.3 million, an 8 percent improvement from July 2008.

The city is projecting tax collections during the fiscal year, which began July 1, to average $16.5 million a month. Those figures account for the 10 percent the state takes off the top to pay for administering the tax.

The projection might be difficult to reach since local economists don't expect any marginal rebound in the economy until 2011. However, city officials maintain the shortfall is small compared with the project's overall $5.3 billion price tag. Additionally, the city expects a slowing economy will lead to reduced labor and material costs. The project budget also includes more than $1 billion to cover contingencies such as revenue shortfalls and cost overruns.