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July 2, 2012 at 11:57 AM

City Council one step from $290 million measure for new seawall

The Seattle City Council today took a key step toward putting a $290 million property-tax bond measure for a new downtown seawall on the Nov. 6 general election ballot.

Meeting as a special committee, the council voted 9-0 to send the seawall measure to voters.  Council members are expected to formally approve the measure for the ballot at next week’s full council meeting.

It would cost the owner of a home valued at $360,000 about $59 per year, according to the council. A 30-year bond, which the council is seeking, would spread the cost among existing and future Seattle residents.

A new seawall is needed because the current structure is not designed to withstand earthquakes. The replacement would last at least 100 years, according to the council. It would stretch from South Washington Street to Virginia Street.

A new seawall also is needed to support a new Alaskan Way surface road after the Viaduct is removed.

If approved by voters, the measure also would pay for replacing pilings and decking of two city-owned piers: Pier 58, known as Waterfront Park, and Pier 62/63.

“Failure of the wall could severely disrupt transportation and commerce and lead to widespread property damage, injury and loss of life,” said Council President Sally Clark in a statement.

Comments | Topics: bond, property tax, Seattle City Council

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