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Council News Release


FOR IMMEDIATE RELEASE:   
9/22/2006  4:14:00 PM
FOR MORE INFORMATION CONTACT:
Krista Bunch, Drago Office, (206) 684-8801

Councilmember Jan Drago
Councilmember Sally Clark
Councilmember Richard Conlin
Councilmember Jean Godden
Council President Nick Licata
Councilmember Richard McIver
Councilmember Tom Rasmussen
Councilmember Peter Steinbrueck

COUNCIL VOTES TO SEND TRANSPORTATION PACKAGE TO VOTERS
The Council puts a 9-year, $365 million transportation levy on November's ballot.

SEATTLE - In a unanimous vote today, the Council put a 9-year, $365 million transportation levy on November 7th's ballot.

The measure includes the following:

Transportation Package - Spending Plan:
  • Over 9 years (Phase I) the plan would generate roughly $540 million for maintenance and enhancements.
  • Approx. 65% of funding will be used for maintenance/repair (of roads, bridges, sidewalks, etc.)
  • Approx. 10% of funding will be used for system enhancements, including Spokane St. viaduct, Lander St. overpass, Mercer corridor, and King St. station. (The debt service on these projects will extend beyond Phase I, but these costs will be paid from the parking tax and business tax and not the property tax levy - additional detail below.)
  • Approx 25% of funding will be used for improvements for bikes, pedestrians and safety, and enhanced transit services.
  • $1.5 million per year is dedicated to the Neighborhood Street Fund.

Transportation Package - Funding Sources:

Levy
  • In first year, costs the median-valued residential property roughly $155.
  • Funds cannot be used to pay debt-service on bonds for major projects, so larger share of levy funding is directed into maintenance and bike/pedestrian improvements.
  • Expected to generate about $37 million in first year.
  • Levy would be in place for 9 years.
  • Generates roughly $365 million of total.

    -30-


    City Council

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