Seattle voters overwhelmingly authorized $290 million of 30-year bonds to help rebuild part of the city’s seawall and downtown piers.

With the ballot initiative passing, Seattle residents will see property taxes on a $360,000 home increase by about $59 a year, according to a statement by the city.

The proceeds from the bond sale will 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.

In other Washington state election news, a tight governor’s race appeared to favor Democrat Jay Inslee who led Republican Rob McKenna with 51% of the vote counted on Tuesday.

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