Light Rail's Long-Term Financing

This article from The Seattle Times takes a look at the long-term financing schedule associated with extending the region's light rail system.

1 minute read

June 6, 2007, 9:00 AM PDT

By Nate Berg

"Financing costs mean that voters in King, Snohomish and Pierce counties will be looking at a half-century commitment when they decide on a regional-transportation measure in November. The last bonds for the 50-mile rail plan, and other transit projects, would be paid off in 2057."

"By then, Sound Transit's spending would exceed $37 billion, counting inflation and interest charges."

"Add $37.9 billion in transit dollars to $16.1 billion for the roads, and the tally reaches $54 billion, including debt and inflation."

"For the average household, this would mean $150 in new sales taxes next year and $68 in new car-tab taxes for the average automobile - figures that would go up with inflation until at least 2027."

FULL STORY: Light-rail debt a 50-year ride

Monday, June 4, 2007 in The Seattle Times

Transportation Washington

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