Seattle — Streetcar Financing

Rail Transit Online, December 2005

An assessment district created to help finance the new South Lake Union streetcar line has been approved after just 1.5 percent of property owners along the route filed official protests.  Stopping the project, linking Westlake Center with the South Lake Union area, would have required appeals from owners paying 60 percent of the proposed assessments.  The 1.3-mi. (2.1 km) line will cost an estimated $48.2 million, with $25.7 million coming from 760 parcels located within the local improvement district.  The city has hired Stacy & Witbeck to build the line and is negotiating the purchase of three streetcars.  However, the City Council must still approve the assessments before work can begin.  Revenue service is scheduled for late 2007.