Seattle voters will decide in November whether to authorize $290 million of bonds to help rebuild part of the city’s seawall and downtown piers.
The City Council on Monday voted unanimously to approve the 30-year property tax bond measure for the Nov. 6 ballot.
The ballot initiative would raise property taxes on a $360,000 home about $59 a year, according to a statement by the city.
The proceeds from the bond sale would be used to build a new seawall along part of the downtown waterfront and fix up two city-owned piers attached to the wall.
The King County Flood Control District will also kick in $30 million for the project, along with Seattle’s general fund.
Seattle officials said replacement of the seawall, which must be removed and rebuilt by 2016, is necessary to support the construction of the new Alaskan Way road that will run along the waterfront, replacing the existing, rickety Alaskan Way viaduct.
“Replacing the seawall is essential both to public safety and to the local and regional economy,” City Council President Sally Clark declared in a written statement.
“Failure of the wall could severely disrupt transportation and commerce and lead to widespread property damage, injury and loss of life,” she added.