Look at Trump's new infrastructure spending plan-- it no long provides large Federal grants. It puts the responsibility on states and private development to build infrastructure projects like the Rail. The Federal government will help with obtaining financing and States and municipality's will use their borrowing power to provide, obtain, or support private financing and management of the project. The Chinese have said they are interested in US infrastructure projects (and they are in the process of cutting deals now)-- with Chinese ownership of land at Kapolei and Ko'olina-- they might be interested. We sell or finance the project at a discount and get it done. Bank of Hawaii and First Hawaiian have expressed interest in financing the rail on this basis, so get them involved. Get rail done and give up the upside to private developers and sell the land the City has acquired by eminent domain to developers as part of their share of the deal.