| Sound Transit Board adopts 2011 budget, sets path for major expansion |
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| Friday, December 17, 2010 | |
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The Seattle-area's Sound Transit Board of Directors adopted a 2011 budget that continues the momentum on major projects under way and sets a long-term path for delivering the bulk of Sound Transit 2 expansions approved by voters in 2008. The Board will continually evaluate options for completing the voter-approved ST2 system in the wake of agency revenue impacts from the continuing national recession. "The budget we're adopting today and the path forward for dealing with the recession will deliver what the voters asked for in 2008 - connecting regional jobs and housing with reliable transit options," said Sound Transit Board Chair and Snohomish County Executive Aaron Reardon. Sound Transit revenues expected through 2023 are $3.9 billion, or 25 percent, lower than forecasted in 2008 when voters approved the ST2 expansion plan. The ST2 plan included flexible provisions for delivering the projects during economic downturns including reducing the scope or delaying projects.
The adopted budget and long-term priorities emphasize: The ST2 plan included 36 miles of light rail expansions north to Lynnwood, Wash., east to Mercer Island, Bellevue and Overlake, Wash. and south to Federal Way, Wash., with the last of the expansions running by the 2023. The agency has cut project reserves, expanded some construction timelines and eliminated discretionary programs.
The new budget and long-terms plans include: The Board will continually monitor agency revenues and could adjust timelines as and projects move through environmental studies and final design updates.
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