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Sound Transit Board seeks public input on priorities for managing revenue and costs

Sound Transit Board seeks public input on priorities for managing revenue and costs
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With affordability gap at a whopping $11.5B, Sound Transit asks public for input

With affordability gap at a whopping $11.5B, Sound Transit asks public for input
April 14, 2021
Sound Transit looks to public input to help solve financial woes.
Sound Transit
Through April 30, regional residents are encouraged to provide input to the Sound Transit Board of Directors on priorities for managing an unprecedented financial environment in its work to advance voter-approved transit projects that are not already under construction.
Sound Transit faces two major, simultaneous challenges. A pandemic-driven recession has severely reduced consumer spending and agency tax revenues at the same time that real estate and construction market pressures continue to drive project estimates to levels significantly beyond previous assumptions. These factors result in a currently projected $11.5 billion affordability gap to complete the full expansion program as originally planned (the Board will update this forecast on April 22). ....

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Facing Shortfalls, Sound Transit Seeks Public Input

Facing Shortfalls, Sound Transit Seeks Public Input
Facing Shortfalls, Sound Transit Seeks Public Input
Written by
Bill Wilson, Engineering Editor; and Editor-in-Chief, Railway Track & Structures
Through April 30, Puget Sound regional residents are encouraged to provide input to the Sound Transit Board of Directors on priorities for managing an unprecedented financial environment in its work to advance voter-approved transit projects that are not already under construction.
Sound Transit faces two major, simultaneous challenges. A pandemic-driven recession has severely reduced consumer spending and agency tax revenues at the same time that real estate and construction market pressures continue to drive project estimates to levels significantly beyond previous assumptions. These factors result in a currently projected $11.5 billion affordability gap to complete the full expansion program as originally planned (th ....

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Sound Transit Board seeks public input on managing revenue impacts, program realignment for future voter-approved projects

Sound Transit Board seeks public input on managing revenue impacts, program realignment for future voter-approved projects
Posted: April 13, 2021
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Through April 30, regional residents are encouraged to provide input to the Sound Transit Board of Directors on priorities for managing what the agency called “an unprecedented financial environment in its work to advance voter-approved transit projects that are not already under construction.”
Sound Transit said it faces two major, simultaneous challenges. A pandemic-driven recession has severely reduced consumer spending and agency tax revenues at the same time that real estate and construction market pressures continue to drive project estimates to levels significantly beyond previous assumptions. As a result, the agency faces a currently projected $11.5 billion “affordability gap” to complete the full expansion program as originally planned through the Sound Transit 3 ballot measure approve ....

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