Dot gov

The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

SSL

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

United States Department of Transportation United States Department of Transportation

East Link Extension

East Link project schematic
Alternate Project Name
Sound Transit East Link
Project Type
Public Transit
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Central Puget Sound Regional Transit Authority (Sound Transit)
Project Description

The East Link Extension is a 14.5-mile Light Rail Transit (LRT) line that will provide east-west connections from the Eastside's largest population and employment centers to downtown Seattle, doubling the capacity of the I-90 Floating Bridge. On the east shore of Lake Washington, the new line will extend from Redmond to South Bellevue, where it will join the alignment of I-90 and continue to Mercer Island and downtown Seattle via the I-90 floating bridge. The new LRT line will terminate at the International District/Chinatown station, where onward connections are available to the Central Link Light Rail line running between downtown and Sea-Tac International Airport.

The project also includes the I-90 Two-Way Transit project, which will provide eight miles of High Occupancy Vehicle (HOV) lanes across both sides of the I-90 Floating Bridge. This aspect of the project improves transit and HOV reliability using existing right-of-way, without widening the I-90 floating bridge. The project also will replace the fire/life/safety systems located in the Mt. Baker tunnels connecting to the I-90 Floating Bridge, as well as seismic retrofits that will improve the earthquake resistance of the floating bridge.

According to Sound Transit, the TIFIA credit assistance is estimated to generate up to $300 million in additional financial capacity while reducing the risk of scope reduction and service delays. The East Link’s extended reach will connect over 200,000 existing jobs in downtown Seattle, Bellevue, and Redmond, and it is expected to create an additional 49,000 new jobs.  The bridge’s increased capacity is projected to eliminate 10,000 vehicle hours, eliminate 230,000 vehicle miles traveled per day, reduce average travel time by 25 minutes per trip, and reduce greenhouse gases by 22,000-29,000 metric tons.  The expected travel time savings are expected to save $65 million annually.

Project Details
TIFIA Assistance
$1330.00M
Primary Revenue Pledge
Tax Revenues
Project Cost
$4031.00M
Fiscal Year Closed
FY2015
Duration/Status
The Federal Transit Authority (FTA) issued a Record of Decision (ROD), approving the East Link Light Rail line in November 2011. Construction to reconfigure the I-90 floating bridge began in January 2015 and will conclude in 2017. Preliminary civil construction has begun on the East Link as well. Substantial completion is expected to occur in 2023.
Funding Sources
Contribution from cash balances: $281.4M
Sound Transit tax revenue: $1.086B
Grant revenue - Federal / Local: $88.693M
Bond proceeds: $1.060B
TIFIA Loan: $1.330B
City of Bellevue: $184.475M
Project Delivery/Contract Method
Multiple contract delivery methods
Project Advisers/Consultants
Piper Jaffray - Financial Advisor

Foster Pepper PLLC - Counsel to the Borrower

To USDOT TIFIA JPO:

TIFIA Financial Advisor - Taylor-DeJongh and Booz Allen Hamilton
TIFIA Legal Advisor - Squire Patton Boggs (US) LLP
Project Lender
Bondholders; US DOT TIFIA
Credit Assistance Detail
Direct loan: $1.33 billion. The TIFIA loan will be repaid through pledge of sales and rental car taxes.
Financial Status
The TIFIA credit agreement was executed in January 2015. Interest payments are set to begin in 2028, with principal payments to begin in 2030; final loan maturity is expected to occur in 2058.
Innovations
This project combines funding from a large and varied number of stakeholders.
USDOT awarded Sound Transit a $14 million TIGER grant, which will be used to support the $225.6 million HOV component of the project.
The City of Bellevue has committed $185 million in cost sharing to support the construction of a tunnel in downtown Bellevue.
$2.2 billion in local funding is provided in Sound Transit 2 Bonds leveraging a voter approved revenue measure passed in 2008.
As part of the Spring District Transit-Oriented Development, the real estate developer Wright Runstad & Company will invest approximately $50 million in public infrastructure improvements adjacent to the East Link 120th Street Station. Other private sector support is expected from Su Development, Microsoft, Boeing, T-Mobile, Bellevue College and Groups Health.
Application Details
Applicant
Sound Transit
LOI Fiscal Year Received
FY2013
LOI Received Date
Application Received Fiscal Year
FY2014
Credit Agreement Executed
Initial Eligibility Review
Review complete
Creditworthiness Review
Review complete
Application Review
Review complete
Estimated Project Cost
$4030.00M
TIFIA Request
$1330.00M
Instrument Type
Direct Loan