The May update said "Options are being evaluated to address the cost pressures that were identified after the 30% design submissionmilestone in January. This work is being done in advance of the next Development Phase milestone in June 2024 with delivery of the 60% design submission and the Board Decision Gate. The Board anticipates bringing forward recommendations by the end of Q2 2024 for Council decisions."
There hasn't been a public decision to proceed to construction, nor have there been recommendations to Council. Presumably if those were easy, they would have happened already.
The situation looks grim to me. The Crescent Heights segment and the bridge are presumably long gone, but Shepard to Eau Claire seems to be over the budget. They can't make the project any shorter, so either the city puts in more money, or they need to scale back on the size of the stations (which will take months) or the amount of underground construction (which will take year(s).