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Seattle Times letters to the editor

August 9, 2013 at 11:27 AM

Highway 99 tunnel funding approved

Expensive hubris

The Highway 99 tunnel drill, nicknamed "Bertha," is shown nestled in its launch pit. [Mike Siegel, The Seattle Times.]

The Highway 99 tunnel drill, nicknamed “Bertha,” is shown nestled in its launch pit. [Mike Siegel, The Seattle Times.]

In the recent article on the Highway 99 tunnel, Mike Lindblom explains how the Port of Seattle is making good on its promise to spend $300 million on its vision of the solution of the port’s mobility problem. [“Port approves bond sale for Highway 99 tunnel,” NW Wednesday, Aug. 7.]

The obligation totals only $231 million in bonds, a cost to be added to our taxes through 2041. That means we’ll be paying for nearly 30 years. It will cost a $400,000 property owner-county taxpayer $92 a year.

The worst part is that this expenditure has the extra opportunity costs of not paying for important Duwamish cleanup and container-terminal enhancements.

The $300 million “promise” was an expensive bit of hubris four years ago. Last week, the hubris hit the fan.

Earl Bell, Seattle

Comments | More in Economy, Politics, Seattle | Topics: bonds, cost, highway 99

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