ST3 cannot be delivered on time, so Sound Transit is considering light rail cuts
Sound Transit will celebrate opening a light rail connection across Lake Washington later this month, but behind the excitement, the agency faces a brutal financial future. Sound Transit can't deliver on its ST3 promises to voters by 2046 as planned.
Rising land and construction costs have helped pushed project costs so high, Sound Transit's governing board is now considering options to save money by potentially cutting projects. Board members met Wednesday to figure out a strategy.
Sound Transit's CEO Dow Constantine likes to say the agency is on firm financial footing right now. It has billions in cash on hand. But he warns that starting in the mid-2030s, the agency will hit major cash flow problems. The crunch will last a decade.
The agency spent much of the last two years figuring out how it got here. Now, the board has a menu of three cost-cutting approaches. At its March 18 retreat, the Sound Transit Board weighed its options.
https://www.kuow.org/stories/st3-cannot-be-delivered-on-time-so-sound-transit-is-considering-light-rail-cuts