Sound Transit Realignment Needs Visibility

 For years Sound Transit has provided access to videos of Sound Transit Board meetings.  That ended with their February Board Meeting video.  It's particularly unfortunate in view of recent Board meeting transactions.  Sound Transit's April 22 presentation of their "Financial Plan Update, April 2021" to the Board showed increased costs had resulted in needed "Tax Based Debt" exceeding money they could borrow, "Agency Debt Capacity," by $7.9B.  That "Tax Based Debt" in 2042, when ST3 taxes ended, had increased from $17B in their 2019 budget to $34B in 2021.

Again, it's "unfortunate" no videos of the Board's response are available.  Apparently Board members' concern over increased costs resulted in Sound Transit Board Chair Kent Keel's April 30th letter to  Sound Transit Board and to CEO Rogoff.  It detailed the need to "not cut and run" but to delay projects, "Realignment", until they could borrow the funds needed.  Chair Keel planned to present his "Realignment" proposal in July.  Council members Constantine, Durkan, and Balducci advocated postponing "Realignment" for a year.

Chair Keel's realignment proposal was presumably the basis for the June 24th Sound Transit Board Meeting Agenda, "Reports to the Board, Realignment Update and Chair's Proposal".  Most residents probably had no idea what that agenda item meant.  The April 22 presentation to the Board that had detailed how Sound Transit planned to implement the realignment is no longer available on their website.

Board Chair Kent Keel's April 30 three-page letter to Sound Transt Board and CEO Rogoff detailing the reasons for proceeding with the realignments is also no longer available.  This lack of visibility means very few residents recognize that the "Realignment Update and Chair's Proposal", if approved, will result in light rail construction extending well beyond the 2041 completing date.

Again, the lack of any video precludes residents knowing Board members' response to Keel's proposal.  It  also prevents area's commuters from knowing which projects will be delayed and for how long.  What will their "Tax Based Debt" be when realigned extensions are completed and how do they intend to pay for the extensions when ST3 taxes end in 2042?

A more "practicable" response would be Board members recognize the legislature enabled voters approve the taxes not the extensions in the 2016 ST3 vote.  The taxes, that would fund the $54B in 2016 allowed a $96B expansion expenditure in CEO Rogoff's 2019 budget.  Sound Transit and the Board should use their claimed "Project Scope Discipline" to better spend the $96B.  Come up with a "realignment that ends "Tax Based Debt" in 2041 when ST3 taxes end.  Part of the realignment should include funds to expedite, not delay, the West Seattle-to-Ballard link.  Those commuter, whose 70% approval enabled ST3 should benefit sooner rather than later.

Again very few residents are aware what Sound Transit's plans today could result in billions in construction costs and huge debt service payments 20 years and more from now.  Future residents deserve better.   The Seattle Times Traffic Lab ignores the issue. My King County Executive candidacy is, as with my previous candidacies, is an attempt to make up for their failure.