Sound Transit officials chase more money to close $35B funding gap

Sound Transit officials chase more money to close $35B funding gap

Besides delaying projects, leaders might resort to 75-year bonds or a rental-car tax increase, among other ways to lower a long-term funding deficit.

Sound Transit officials chase more money to close $35B funding gap - The Daily Chronicle

Sound Transit's need to climb out of a nearly $35 billion shortfall, dramatized this month by proposals to drop or postpone promised light rail stations, will include stepped-up efforts to gather money. A key strategy will be to borrow higher amounts, and for longer time periods. The agency will continue lobbying the Legislature to allow 75-year Sound Transit bonds, instead of the maximum 40 years. The greatest benefit of all is ensuring we get …