Drafter
Clerk 06/16/2010
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AN ORDINANCE pertaining to the roads capital improvement program; and amending the 2010/2011 Biennium Budget Ordinance, Ordinance 16717, Section 137, as amended, and Attachment G, as amended.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION. Findings:
A. The South Park Bridge, built in 1931, is at the end of its useful life. The problems with the bridge structure are so extensive that there are no feasible repair options, and the bridge is scheduled to close June 30, 2010.
B. The current cost estimate to build a new bridge and demolish the existing structure is approximately $131,000,000.
C. Efforts to find replacement funding for the bridge have been underway for many years. With pre-2010 contributions from several sources, an additional $30,000,000 has been expended on this project thus far, including the preliminary engineering, design and environmental work, as well as the acquisition of right-of-way necessary for the construction of the new bridge.
D. Since 2009, King County applied for a $99,000,000 grant from the United States Department of Transportation, Transportation Investment Generating Economic Recovery (TIGER) program for the replacement of the South Park Bridge. This application made the final round of projects but ultimately was not chosen to receive grant funding.
E. In April 2010, the United States Department of Transportation announced a second opportunity for transportation projects eligible under the TIGER II program.
F. King County is preparing an application for this second round of funding with a request of $40,000,000. Additional efforts are underway to engage funding partners to help realize full funding of the South Park Bridge replacement.
G. King County must contribute more of its own funding to demonstrate sufficient commitment to its share of the project and to provide a local match as a requirement of the TIGER II program application, which is due August 23, 2010.
H. This contribution can be realized by issuing $31,000,000 in bonds backed by the King County road fund to finance a $30,000,000 share of the project costs and cover miscellaneous issuance costs. This bond issuance will be addressed through a separate ordinance.
I. It is estimated that the annual debt service for these bonds will amount to $2,500,000. This ordinance amends the Roads Capital Improvement Program accordingly to provide the funding needed to pay the annual debt service.
J. Following notification of a successful grant award, legislation will be transmitted to release additional construction funding currently constrained by proviso P1 in section 2 of this ordinance.
SECTION 2. Ordinance 16717, Section 137, as amended is hereby amended by adding thereto and inserting therein the following:
ROADS CAPITAL IMPROVEMENT PROGRAM - The executive is hereby authorized to execute any utility easements, bill of sale or related documents necessary for the provision of utility services to the capital projects described in Attachment G to this ordinance, but only if the documents are reviewed and approved by the custodial agency, the real estate services division, and the prosecuting attorney's office. Consistent with the requirements of the Growth Management Act, Attachment G to this ordinance was reviewed and evaluated according to the King County Comprehensive Plan. Any project slated for bond funding will be reimbursed by bond proceeds if the project incurs expenditures before the bonds are sold.
The two primary prioritization processes that provided input to the 2010-2015 Roads Capital Improvement Program are the Bridge Priority Process published in the Annual Bridge Report, and the Transportation Needs Report.
From the Road Services Capital Improvement Program funds there are hereby appropriated and authorized to be disbursed the following amounts for the specific projects identified in Attachment G to this ordinance.
Fund Fund Name 2010/2015
3860 ROADS CONSTRUCTION $0
P1 PROVIDED THAT:
For CIP Project 300610, South Park Bridge Demolition, no more than $1,800,000 may be expended or encumbered for right-of-way acquisition, and no more than $1,400,000 may be expended or encumbered for other project purposes until the executive has transmitted a report certifying that insufficient funding is available for CIP Project 300197, South Park Bridge Replacement, or providing an update on an executive plan to fund CIP Project 300197. The report shall include the finalized closure plan for the South Park Bridge.
The report required to be submitted by this proviso must be filed in the form of a paper original and an electronic copy with the clerk of the council, who shall retain the original and provide an electronic copy to all councilmembers and to the committee coordinator for the Physical Environment Committee or its successor.
P2 PROVIDED FURTHER THAT:
For CIP Project 300197, South Park Bridge Replacement, none of the amount appropriated in 2010 may be expended or encumbered until the executive has transmitted, and the council has approved by motion, a funding plan for the project. Any ordinance necessary for implementation of the funding plan shall be transmitted with the plan.
Any plan or legislation required to be submitted by this proviso must be filed in the form of a paper original and an electronic copy with the clerk of the council, who shall retain the original and provide an electronic copy to all councilmembers and to the committee coordinator for the Physical Environment Committee or its successor.
SECTION 3. Attachment A to this ordinance hereby amends Attachment G to
Ordinance 16717, as amended, by adding thereto and inserting therein the projects listed in Attachment A to this ordinance.