Business, News, Politics

City’s Sale of Pacific Place Parking Garage Doesn’t Pencil Out, Says Burgess

Burgess admits that a belated discovery means it’s not so simple for city to get out from under Pacific Place: “For various reasons, our garage debt cannot be paid off directly — or ‘called’ in the language of the bond market — until late in 2017. That leaves us paying the bonds’ 5 percent interest rate in the meantime.” Continue reading City’s Sale of Pacific Place Parking Garage Doesn’t Pencil Out, Says Burgess

News, Transportation

How 520’s Toll Revenue Differs from WSDOT’s 2011 Projections

Back of the envelope calculations would seem to show that toll revenue has exceeded expectations by more than that $3 million, certainly, but WSDOT says “right on target.” If you take them at their word, this would indicate that the tolls in themselves, despite the increase in price and late-payment windfall, are lagging. Continue reading How 520’s Toll Revenue Differs from WSDOT’s 2011 Projections