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Sound Transit Operations & Maintenance Satellite Facility: East

A design drawing of the planned OMFE facility in Bellevue, Washington
Project Type: 
Public Transit
Sponsor / Borrower: 
Central Puget Sound Regional Transit Authority (Sound Transit)
Credit Agreement Status: 
Active
TIFIA Assistance: 
$87.7 million
Primary Revenue Pledge: 
Sales Tax Revenues
Project Cost Details: 

$449.2 million in total project costs; $265.7 million in project costs eligible for TIFIA financing.

Duration / Status: 

Construction expected to begin in fall 2017; substantial completion is expected in 2021.

Fiscal Year Closed: 
FY2017
Project Description: 

The Operations & Maintenance Satellite Facility: East ("Project") is a proposed facility that will maintain, store, and deploy light rail vehicles.  The Project is crucial for the expansion of the region’s light rail system.  By 2023, the system will grow from 16 to 50 miles and the existing light rail fleet will triple in size from 62 to 180 vehicles.  Sound Transit forecasts that the current operations and maintenance facility in Seattle, which can store and maintain up to 104 light rail vehicles, will reach full capacity by 2020, making the Project a much needed addition to Sound Transit’s maintenance capacity.  The new site will be located between a former BNSF Railway railroad right-of-way on the west and 120th Avenue Northeast on the east, south of SR520 and north of Northeast 12th Street in the City of Bellevue.

Funding Sources: 
  • Sound Transit Tax Revenue: $112.3 million
  • TIFIA Loan: $87.7 million
  • Bond Proceeds: $57.3 million
  • Grant Revenue - Federal/Local: $8.4 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 Build America Bureau
Bondholders
TIFIA Credit Assistance Detail: 

Direct loan: $87.7 million.  The TIFIA loan will be repaid through pledged gross tax revenues.

Financial Status: 
The TIFIA credit agreement was executed on June 22, 2017, and is expected to mature in 2056.
Project Contacts: 

Jennifer Lemus

Community Outreach Corridor Supervisor

Phone: 206-398-5314

Email: jennifer.lemus@soundtransit.org

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