Project Profile: Sound Transit Operations and Maintenance Facility East

Sound Transit Operations and Maintenance Facility East

photo credit: Sount Transit DOT

Location

Bellevue, Washington

Project Sponsor / Borrower

Central Puget Sound Regional Transit Authority (Sound Transit)

Program Areas

Alternative Project DeliveryProject FinanceValue CaptureTIFIA

Fiscal Year Approved Fiscal Year 2017
Mode

Light Rail Transit

Description

Sound Transit will build the Operations and Maintenance Satellite Facility East (OMF East) in Bellevue, Washington to maintain, store, and deploy light rail vehicles on its expanding light rail system. By 2023, the system will grow from 16 to 50 miles and the existing light rail fleet will triple in size from 62 to 180 vehicles. Sound Transit projects that its existing operations and maintenance facility in Seattle, which can accommodate up to 104 light rail vehicles, will reach full capacity by 2020, making the OMF East a much-needed addition to Sound Transit's maintenance capacity. The new site is located between a former BNSF Railway railroad right-of-way to the west and 120th Avenue Northeast to the east, south of SR 520 and north of Northeast 12th Street in the City of Bellevue. In addition to the OMF East facility, the site will eventually include transit-oriented development consistent with the City of Bellevue's plans for new housing, office, and retail projects in the Spring District.

In 2008, local voters approved the expansion of the region's light rail system, supported in large part by Sound Transit 2; a dedicated local option sales tax. Light rail system extensions to be supported by the OMF East include East Link extending from downtown Seattle to Bellevue and Redmond, Northgate line running from the University of Washington to the Northgate Mall and north to Lynnwood, and Federal Way extension south from SeaTac Airport.

The project is the second to reach financial close under a TIFIA Master Credit Agreement (MCA), first authorized under MAP-21.  Under the agreement USDOT may make a contingent commitment of future TIFIA credit assistance for a program of related projects secured by a common security pledge. Sound Transit secured a $1.991 billion contingent commitment to fund portions of the Northgate Link, Lynnwood Link, Federal Way Link and the Operations and Maintenance Facility East through individually approved loans.

Cost

$449.2 million (total project costs)

$265.7 million (TIFIA eligible costs)

Funding Sources

Sound Transit sales tax revenues - $112.3 million

TIFIA loan - $87.7 million

Bond proceeds - $57.3 million

Grant proceeds - $8.4 million

Project Delivery / Contract Method

Design-build

Private Partner

Design-builder - Hensel Phelps

Project Advisors / Consultants

Lead Designer - Stantec

Civil/Site Construction - Granite

To Sound Transit

  • Financial Advisor - Piper Jaffray
  • Legal Advisor - Foster Pepper

To USDOT Build America Bureau

  • TIFIA Financial Advisor - Taylor DeJongh/Booz Allen Hamilton
  • TIFIA Legal Advisor - Shearman & Sterling LLP
Lenders

USDOT TIFIA, Bondholders

Duration / Status

Construction is expected to begin in fall 2017.

Substantial completion is expected in 2021.

TIFIA Credit Assistance

Direct Loan - $87.7 million

The TIFIA loan will be repaid through pledged gross tax revenues.

Financial Status / Financial Performance

The TIFIA credit agreement was executed on June 22, 2017 and is expected to mature in 2056.

Innovations
  • The project is the second of four projects included as part of a Master Credit Agreement, a first-of-its-kind arrangement authorized under MAP-21 in which the local transit authority will be able to expedite multiple loan requests under a single agreement with the federal government.
Related Links / Articles

Operations and Maintenance Facility East Project Website

Sound Transit 2 Plan and Project List

USDOT TIFIA MCA Press Release

Contacts

Tracy Butler
Treasurer, Sound Transit
Tel: (206) 398-5000
tracy.butler@soundtransit.org

Jennifer Lemus
Community Outreach Corridor Supervisor, Sound Transit
Tel: (206) 398-5314
jennifer.lemus@soundtransit.org

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