Ferry fares frozen, bridge funds included in proposed budget

OLYMPIA — Majority House Democrats on Monday unveiled a $7.4 billion transportation budget that freezes ferry fares, provides a $120 million down payment on a new Lake Washington floating bridge and creates a $1 billion reserve for costly megaprojects.

The proposed two-year budget includes no new projects but deals with $2 billion in cost overruns, primarily the soaring price of materials, that have engulfed the hundreds of projects that were promised when lawmakers and voters approved a 9 ½-cent-a-gallon gas-tax increase two years ago.

Lawmakers and Gov. Christine Gregoire said for the first time that Olympia must proceed with some projects, most notably the Evergreen Point Floating Bridge, without knowing entirely where the money is coming from. The bridge needs at least $2 billion more.

About $78 million is set aside to cover additional overruns in the next two years and a $1 billion risk pool is created for the Alaskan Way Viaduct replacement and rebuilding the 520 bridge.

The plan assumes $915 million worth of initial work on replacement of the viaduct and would include $120 million in early spending on the 520 bridge.

The House proposal would freeze ferry fares for a year while the recommendations of the recent ferry finance study are implemented.

Fares have gone up 62 percent since 2001, and the state Transportation Commission recently recommended a 4 percent increase.

House Transportation Chairwoman Judy Clibborn, D-Mercer Island, said she can't predict what happens next year.

The budget plan provides money to cut tolls on the new Tacoma Narrows Bridge to $1.50 in the first year of operation for motorists who use transponders. It would be $3 for those without transponders.