Today the Seattle City Council's waterfront committee unanimously voted the $290 million seawall replacement bond levy out of committee, all but ensuring the levy will be on the ballot this November.
Bill 117498, otherwise known as the seawall replacement levy, would authorize a 30-year property tax bond measure of $290 million to help pay for construction of the new seawall from South Washington St to Virginia St, while also providing funds to replace two rotting City-owned piers: Pier 58, known as Waterfront Park, and Pier 62/ 63.
The alternative is to continue to let Seattle's sagging porch of a seawall continue to rot, and risk watching it collapse during a seismic event or simply washing away in a tide of voter apathy, while taking half of downtown with it.
Council members will approve the bill during next Monday's full council meeting, thereby forwarding it to voters. If the measure were approved by voters on November 6, the annual cost of the property tax would amount to roughly $59 for a $360,000 home. But voters will also likely be asked to approve another library levy and a measure to replace the our crappy juvenile detention center this November, all but ensuring the teabaggy Seattle Times editorial board brown its britches.