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).