Traffic at a Crawl
North-south traffic around Spokane
Street routinely slows to a crawl these days due to lane closures and
construction work on Airport Way, Fourth Avenue South and First Avenue
South. Get used to it because traffic in SODO is going to be disrupted for
the next five to six years due to major construction projects involving
the south end of the Alaskan Way Viaduct, the Spokane Street Viaduct and
the Deep Bore Tunnel to replace the rest of the Alaskan Way elevated
These and other topics, including the fate of the South
Park Bridge, will be discussed at a meeting Tuesday, April 6, with Tom
Rasmussen, chair of the Seattle City Council transportation committee, and
Jan Drago, the new King County Council person for District 8, which takes
in the greater Duwamish planning area. Rasmussen and Drago will meet with
the Duwamish Transportation Management Association starting at noon in
Room B113 at the Puget Sound Industrial Excellence Center in
The second half of the meeting, from 1 to 2 p.m., will
focus on highway and transit planners responsible for detours and route
changes as result of the Alaskan Way Viaduct construction work that will
begin later this year.
Both meetings are open to the public. RSVP
to Pam at 206-762-2470 so an adequate number of chairs is available. The
meeting room is in Building B. Use the driveway at 6770 East Marginal Way
and find parking east of the building.
Save the Date - April
Financing? Recovery Zone Facility Bonds and You
The American Recovery and Reinvestment Tax
Act of 2009 (the "Recovery Act") created a new category of tax-exempt
bonds called Recovery Zone Facility Bonds ("RZFBs") to assist economic
development in distressed areas throughout the United States. The Recovery
Act authorized $15 billion of tax-exempt RZFBs, promoting the financing of
capital projects owned or used by private parties. This $15 billion is
allocated among major metropolitan areas and counties of each state based
on unemployment statistics in 2008. The City of Seattle is authorized to
issue $19 million in tax exempt RZFBs in 2010 through the Office of
Economic Development. Other Puget Sound jurisdictions authorized to issue
RZFBs include Clark, Cowlitz, King and Kitsap Counties, as well as the
cities of Bellevue, Tacoma and Vancouver. See WA State Department of
Commerce for complete listing.
How it Works:
- For each project, RZFBs will be issued and privately placed with a
- The bank/lender will then loan the bond proceeds to a Qualified
- Due to the tax-exempt status of the bonds, the bank/lender may claim
a federal income tax exemption on the interest income. In exchange for
this tax benefit, the bank/lender offers a reduced rate of interest for
the loan (approximately as much as 2% below market interest).
- The bonds will be issued by a conduit issuer such as Seattle
Industrial Development Corporation or Washington Economic Development
Finance Authority (WEDFA).
- It is critical that those interested in applying for RZFBs be
proactive in submitting their proposed projects in the near future.
RZFBs must be issued no later than January 1, 2011.
City of Seattle will give priority to projects that create the following
economic development benefits (listed in order of priority):
- Create and retain permanent jobs
- Increase goods and services needed by the neighborhood
- Serve as an anchor for future economic development in the immediate
- Enhance the local tax base through increased sales and/or property
taxes from future project operations.
- Include energy efficient building or process improvements.
What is a Qualified Business?
Business is most for-profit businesses, including manufacturing,
distribution, service providers, and retail. See Section 14000U-3 of
the IRS for exclusions, including: "residential rental property, private
or commercial golf course, country club, massage parlor, hot tub facility,
suntan facility, racetrack, or other facility used for gambling or any
store the principle business of which is the sale of alcoholic beverages
for consumption off premises."
SAVE THE DATE! Attend the
MIC's Financing Forum on April 28, 2010 to learn more about this financing
program and others available to small & medium businesses in Seattle.
Details coming soon
Excerpts from An
Introduction to Recovery Zone Facility Bonds, by Alan L. Kennard, Wildman
Harrold Law Client Bulletin, 10/02/2009 and Recovery Zone Facility Bond
(RZFB) Overview, OED Draft Discussion Paper, 2/19/2010
Port of Seattle Earth Day Parks
Come and learn about the Port's environmental projects and the
Seaport's 100% organic landscaping programs. You're invited to tour two of
Port of Seattle's 22 parks and public access areas on Wednesday, April 14,
12 noon-2:30 p.m.
Terminal 107 (4700 West Marginal Way Southwest):
Learn about Kellogg Island, fish and wildlife habitat restoration, walk
the pedestrian paths along the shoreline, and learn about historic use of
this critical area in the Duwamish estuary.
Terminal 5, Jack Block
Park (2130 Harbor Avenue Southwest): Tour the children's play area,
landscaped areas with interpretative information, pedestrian/bicycle
paths, and view the Seattle skyline and container terminal from a 45' high
The Parks Tour begins at Pier 69 in the Port of Seattle
Headquarters. Tours are for participants 18 years and older. Space is
limited, register early by e-mail: PortRSVP@portseattle.org or by phone:
206 787-3009, include names of all registrants with company (if
applicable), e-mail and phone contact information. Confirmation of
registration will be sent with tour details and parking
Environmental managers and landscape crew members will
lead the tours which will be conducted at a brisk walking pace and may
cover uneven terrain. Remember to dress for the weather and wear sturdy,
comfortable walking shoes.
WHAT’S IN A
Seattle Department of Transportation has received a request to
change the name of Airport Way South between 4th Avenue South and 6th
Avenue South back to its historic designation, Seattle Boulevard South.
This stretch of Airport Way South, adjacent to the former Immigration and
Naturalization building – 815 Airport Way S, has only two building
addresses and both property owners have requested this
If you have any comments on this requested change
please contact Roxanne Thomas, at 206-386-9060 or at
email@example.com no later than March 31, 2010. Once public
comments have been received they will be reviewed and the street name
change request will be forwarded by SDOT to the City Council for their
MIC NOTE: This area appears to be outside of the Duwamish
Manufacturing & Industrial Center and inside of the
Chinatown-International District boundary.
Spokane Street Viaduct
First Avenue on-ramp is
The next major milestone in the South Spokane Street
Viaduct Project (the structure that links the West Seattle Bridge to I-5)
is the permanent closure of the First Avenue South on-ramp to the
westbound lanes of the viaduct, tentatively scheduled for May 17.
The ramp closure is required to widen the Spokane Street Viaduct to the
north by approximately 41 feet. The new westbound on- and off-ramp will be
constructed on First Avenue.
In the year and a half during which
there will be no access to the Spokane Street Viaduct from surface streets
in SODO, vehicles will be detoured to the low level swing bridge to get to
West Seattle. Alternative routes are noted in the detour
map. SDOT will be monitoring traffic flows along the detour routes
following the closure to determine whether changes in signal timing or
other measures are needed to keep traffic moving.
information see Project