A major development is about to unfold in Washington State, where Sound Transit, the agency responsible for the long-overdue Cross-Lake Line, is set to reveal a new opening date. This announcement comes after a series of missed deadlines and escalating costs, sparking a heated debate about the future of transit expansion in the region.
The Cross-Lake Line, a critical component of the East Link project, has been plagued by delays, now stretching over five years beyond its initial schedule. With costs spiraling out of control, the project is millions of dollars over budget, according to recent public discussions.
At a recent Sound Transit board meeting, members identified a potential funding source - a sum of around $60 million - to cover the final costs. Board member Claudia Balducci described this amount as 'couch cushion money' in the grand scheme of things, but emphasized its importance for paying contractors and consultants associated with the Cross-Lake and East Link projects.
However, critics like Charles Prestrud, a former state transportation planner and current analyst at the Washington Policy Center, argue that the project has failed to live up to its promises. "It's hundreds of millions of dollars beyond the original budget," Prestrud stated, adding that the ongoing delays and cost overruns are evidence of Sound Transit's inability to deliver on its commitments.
Prestrud's testimony at a recent hearing in Olympia, where he shared a platform with Sound Transit CEO Dow Constantine, highlighted the controversy surrounding the agency's proposed solution: issuing 75-year bonds. This financing tool, according to Sound Transit, could help manage the projected $35 billion shortfall tied to the Sound Transit 3 (ST3) program.
But critics argue that while longer-term borrowing may provide short-term relief, it ultimately burdens taxpayers with significantly higher costs over time. "Just like with a 30-year mortgage instead of a 15-year one, you end up paying much more in interest and debt service over the life of the bond," Prestrud explained. He warned that the total debt service would be "much greater," potentially impacting future expansion and maintenance plans.
The criticism extends beyond policy groups. Scott Kubly, the former director of the Seattle Department of Transportation, described issuing bonds with such long maturities as "bad financial policy" and a "last resort." Kubly argued that Sound Transit would pay 2.5 to 3 times more interest, creating an "expensive debt" that could strain the agency's finances.
Prestrud and other skeptics believe Sound Transit should first complete its ongoing reassessment of the voter-approved ST3 plan before considering new bonding options. The agency's internal review, known as the Enterprise Initiative, is expected to propose potential cuts in the coming months. Prestrud argues that the board should finalize this work, including identifying reductions or phasing changes, before seeking authority for new, longer-term debt.
As for the immediate future, all eyes are on the long-awaited Cross-Lake opening. Sound Transit had previously promised an opening by the end of May, but now, the agency is set to announce an updated start date on Friday. This announcement will provide much-needed clarity for riders who have been patiently awaiting this transit link for years.
