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Seattle OKs $160 million tax for new waterfront park

In this Nov. 19, 2009 photo, the Alaskan Way Viaduct is seen as it runs from near the football and baseball stadiums, upper right, and though downtown near the Elliott Bay waterfront. Seattle approved a $160 million component of its plan to redevelop the city’s central waterfront, as the City Council approved a special tax on downtown property owners. (Elaine Thompson / AP)
Associated Press

SEATTLE – Seattle approved a $160 million component of its plan to redevelop the city’s central waterfront, as the City Council approved a special tax on downtown property owners.

The Seattle Times reports the Council voted 8-0 to Monday create a Local Improvement District (LID) to help pay for a new waterfront park, tree-lined promenade and pedestrian ramp up to Pike Place Market.

Seattle’s broader plan for the waterfront after the demolition of the Alaskan Way Viaduct has a $712 million price tag, with the city, state and philanthropists chipping in. It also includes a new Alaskan Way, a landing where the Seattle Aquarium intends to build a new pavilion and street improvements.

Authorized by state law, LIDs allow cities to generate money for infrastructure projects by assessing nearby property owners whose property values stand to increase as a result.

APNewsNow.

AP-WF-01-29-19 1545GMT