(This post is part of a series.)
A while back, the Seattle city government decided that it wanted to replace the Alaskan Way Viaduct—the seismically vulnerable aerial highway that cuts off the city’s downtown from its waterfront—with a tunnel. But what neither the city, nor anyone else, has decided is how to pay for the tunnel, which the state estimates could cost more than $4 billion.
So far, the city government’s strategy seems to be something like this: the city will cobble together a billion dollars—from city tax coffers, from the Port of Seattle, from potential tolls on the new tunnel, from a real-estate improvement tax, and from wherever else it can scrape together some cash. And then the city will convince someone else–the federal government, the state, King County, and/or neighboring counties—to pick up the tab for the remaining $3+ billion.
My question: does anyone else think this is just wildly, wildly implausible? I’d love some responses from someone, to help correct my thinking if I’m wrong.