Monorail agency to lay off 30 percent of its staff

Seattle's monorail agency yesterday announced it will lay off 30 percent of its staff and nearly half its full-time consultants to cut costs while it figures out what's next for its embattled project.

Acting agency Executive Director Tom Horkan said about 20 of the project's 67 staff positions will be eliminated, including about 10 of 22 employees who earn $100,000 or more annually.

In addition, the number of full-time consultants will be cut from 19 to 10.

"We're reshaping ourselves to fit our current needs," acting board Chairwoman Kristina Hill said in a statement.

Seattle Monorail Project (SMP) spokeswoman Natasha Jones said the cuts will save about $370,000 a month. She would not identify the positions or people affected, saying some had not yet been notified.

The monorail board authorized staff cuts Wednesday.

The agency's plan to build a 14-mile line from Crown Hill through downtown to West Seattle stalled last month when the board rejected a proposal to finance the $2.1 billion project by selling high-interest bonds. The debt would have required 50 years of car-tab taxes and $11.4 billion in total principal and interest payments to pay off.

SMP's board chairman and executive director resigned earlier this month.

The board is evaluating whether to rework the finance plan, amend the proposed construction contract, rebid the project, or ask voters to approve higher taxes or a shorter line.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com