Fewer drivers in Seattle's Highway 99 tunnel could create need for bailout
Washington states new Highway 99 tunnel lost so much traffic because of work-from-home that toll increases and a bailout by the Legislature are needed to solve a permanent budget shortfall, the state Treasurers Office predicts.
Planners couldnt have foreseen that the COVID-19 pandemic would slash toll revenues, which are to cover $200 million in construction debt plus operating costs for the $3.3 billion project that includes the tunnel and connecting roads.
But in trying to boost revenue, the states hands will be tied by its own construction of a giant Alaskan Way surface street, which will give drivers more leeway to pass downtown Seattle without paying tolls.
Already, the tunnel is $29 million in the red, despite an urgent 15% toll-rate increase to catch up last year. Tolls range from $1.20 to $2.70 each direction for Good to Go passholders, varying by time of day.
https://www.seattletimes.com/seattle-news/transportation/fewer-drivers-in-seattles-highway-99-tunnel-could-create-need-for-bailout/