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Northgate Link Extension

Nortgate Map
Project Type: 
Public Transit
Sponsor / Borrower: 
Central Puget Sound Regional Transit Authority (Sound Transit)
Credit Agreement Status: 
Active
TIFIA Assistance: 
$615.3 million
Primary Revenue Pledge: 
Sales Tax Revenues
Project Cost Details: 

 $1.864 billion

Duration / Status: 

Substantial completion is expected in 2021.

Fiscal Year Closed: 
FY2017
Project Description: 

The Project expands the Borrower’s existing transit system in the Seattle, Washington, area, by adding 4.3 miles of light rail, running mostly underground, and three stations at Northgate Transit Center, Roosevelt neighborhood, and the University District near the west side of the University of Washington Campus.  The Project will be the first project to reach financial close under a Master Credit Agreement, providing a $1.991 billion contingent commitment to the Borrower to fund, through individually approved loans, portions of four projects, including this Project.  The other projects include: Operations & Maintenance Facility: East, Lynnwood Extension, and Federal Way Link Extension.

Funding Sources: 
  • Sound Transit Sales Tax Revenues:  $932.9 million
  • TIFIA Loan:  $615.3 million
  • Bond Proceeds:  $244.4 million
  • Grant Proceeds:  $71.8 million
Project Delivery / Contract Method: 

Design-Build

Project Advisors / Consultants: 

To Sound Transit:

  • Financial Advisor – Piper Jaffray
  • Legal Advisor – Foster Pepper

To USDOT Build America Bureau:

  • TIFIA Financial Advisor – Taylor DeJongh/Booz Allen Hamilton
  • TIFIA Legal Advisor – Shearman & Sterling LLP
Project Lender(s): 
USDOT
TIFIA Credit Assistance Detail: 

Direct loan: $615.3 million.  The TIFIA loan will be repaid with sales/use, rental car, and motor vehicle taxes.

Financial Status: 
The TIFIA credit agreement was signed on December 22, 2016. Principal repayment of the TIFIA loan will begin in 2021, and will amortize through final maturity anticipated in 2056.
Innovations: 

The first of four projects included as part of a Master Credit Agreement (MCA) – a first-of-its-kind arrangement in which the local transit authority will be able to expedite multiple loan requests under a single agreement with the federal government.

Project Contacts: 

Tracy Butler

Central Puget Sound Regional Transit Authority

Seattle, WA

Phone : (206) 398-5000

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