3096-S AMH .... MUNN 121

SHB 3096 - H AMD 1357

By Representative Clibborn

ADOPTED 2/29/2008

   Beginning on page 1, line 16, strike all material through "bridge." on page 2, line 2 and insert the following:

   "NEW SECTION. Sec. 2. A new section is added to chapter 47.01 RCW to read as follows:

   (1) The SR 520 Bridge Replacement and HOV project shall be designed to provide six total lanes, with two lanes that are for transit and high occupancy vehicle travel, and four general purpose lanes.

   (2) The SR 520 Bridge Replacement and HOV project shall be designed to accommodate effective connections for transit, including high-capacity transit, to the light-rail station at the University of Washington.

   NEW SECTION. Sec. 3. A new section is added to chapter 47.56 RCW to read as follows:

   The SR 520 Bridge Replacement and HOV project finance plan must include:

   (1) Recognition of revenue sources that include: One billion seven hundred million dollars in state and federal funds allocated to the project; one billion five hundred million dollars to two billion dollars in tolling revenue, including early tolls that could begin in late 2009; eighty-five million dollars in federal urban partnership grant funds; and other contributions from private and other government sources; and

   (2) Recognition of savings to be realized from:

   (a) Potential early construction of traffic improvements from the eastern Lake Washington shoreline to 108th Avenue Northeast in Bellevue;

   (b) Early construction of a single string of pontoons to support two lanes that are for transit and high-occupancy vehicle travel and four general purpose lanes;

   (c) Preconstruction tolling to reduce total financing costs; and

   (d) A rebate of the sales taxes paid on construction costs, which will be dedicated to construction of the project."

   Renumber the remaining sections consecutively, correct any internal references accordingly, and correct the title.

EFFECT: Requires the SR 520 Bridge Replacement and HOV project to be designed to provide 6 total lanes, of which 2 are for transit and high occupancy vehicle travel and 4 are general purpose, and to accommodate effective connections for transit to the light-rail station at the University of Washington.

Establishes requirements for the SR 520 Bridge Replacement and HOV project finance plan, including the amounts provided by various funding sources and the sources of savings to be recognized.