1. POS Regional Transportation Investments Viaduct/Seawall Discussion September 15, 2004

2. 2 Purpose of discussion 1. Review Regional Transportation Strategy 2. Summarize: What is the project Why it is important to the Port Previous Commission statements Project alternatives and cost ranges 3. “Gag and Nod” gauge: Do we want to contribute to the viaduct/seawall replacement? How should we establish a level of our contribution? What are the potential funding sources that the Port could secure? 4. Seek Commission permission to do additional staff work

3. 3 Mission & Strategy Creating Economic Vitality HERE.  Be a catalyst for regional transportation solutions. The Port is a leader in moving freight and people, and providing related services. The Port will leverage its infrastructure investments in collaboration and partnership with other agencies to develop regional transportation systems that are key to the Port’s and the region’s future success. Key objectives:  Ensure long-term effective access to airport and seaport facilities  Provide access to future port land development projects  Promote regional economic competitiveness

4. 4 Viaduct/Seawall Replacement  What is the project?  Why is it important to the Port?  Commission articulated policies  Alternatives and ranges of costs

5. 5 What is the Viaduct/Seawall project? Provide a transportation facility and seawall with improved earthquake resistance, that maintains or improves mobility and accessibility for people and goods along the existing Alaskan Way Viaduct Corridor.

6. 6 Why is it important to the Port? Previous Port Stated Project Goals  Economic vitality  Regional transportation connectivity and freight mobility  Access to and use of Port properties

7. 7 Port Commission articulated policies  Maintain corridor capacity on the road and railway systems  Support complementary system upgrades  Provide critical freight mobility access to the waterfront for our customers and the region  Protect access to Port properties  Minimize construction impacts to the Port (May 2004)

8. 8 Replacement Alternatives AlternativeDescription SurfaceA 6-lane surface Alaskan Way Bypass TunnelTunnel and Surface hybrid. A 4-lane tunnel beneath Alaskan Way, with 2 lanes added to surface Alaskan Way AerialA new viaduct wider than today with full lane widths and shoulders RebuildA rebuilt viaduct same width as today TunnelA 6-lane tunnel beneath Alaskan Way

9. 9 Alternatives and ranges of costs Cost Range in Billions Construction Duration Surface $2.3 - 2.76 - 8 years Bypass Tunnel $3.1 - 3.66 - 8 years Aerial $2.7 - 3.29 - 11 years Rebuild $2.7 - 3.16 - 8 years Tunnel $3.4 - 4.07 - 9 years

10. 10 How could the Port view a contribution to the Viaduct/Seawall project?  No financial contribution.  The Port’s seawall /bulkhead is not in jeopardy. The roadways are the responsibility of the City and State.  FAST Corridor funding model  Other ways to consider a Port contribution: POS Revenue Loss Economic Impact Risk management A physical component of the project relating to our specific interests Many other alternatives

11. 11 Potential Port of Seattle Funding Sources  Business Revenues –Airport; Seaport; Economic Development  Property Tax Levy –Existing Level –Maximum Allowed Levy  Other Potential Sources –Industrial Development District –Voter Approved GO Bonds –Dredging Levy –Tolling Bonds  Support For Federal Sources –Army Corps of Engineers –Harbor Maintenance Tax

12. 12 Recommendations  Affirm interest in providing funding for Viaduct/Seawall  Approve further staff work: –Refined work on level of contribution Specifically, research larger contributions and potential funding sources –Feasibility and plans for securing funding sources –Protect and leverage Port contributions