The Metropolitan King County Council gave its unanimous approval Monday for the formation of a Transportation Benefit District (TBD), which is a separate taxing district that, with voter approval, has the authority to generate revenue for transit, roads and other transportation projects.
The TBD’s structure is similar to the King County Ferry District and King County Flood Control District. With voter approval, it will have the authority to acquire, construct, improve, provide and fund transportation improvements identified in the transportation plans of the Puget Sound Regional Council, the country or a city within the county.
Council members said the formation of the TBD gives King County a potential way to preserve Metro Transit services and avoid cuts of up to 17 percent and a $50 million annual gap for county road maintenance, according to a news release.
The TBD would be able to consider funding options and determine whether to propose sending to county voters a measure to raise revenue for the district.