In fall 2018, the project team presented a cost estimate of $30 million to City Council, based on a five percent completed design. Following City Council’s review and direction to reduce cost, an updated cost estimate of $27.5 million was presented in October 2018. The project team is currently pursuing several grants and other funding sources and is optimistic the required funds can be obtained.
Given the importance of safety at this rail crossing to Washington State, and the benefit of having an emergency off-ramp for the ferry, there are many potential funding sources for this project. To date, the City has secured over $7 million in grants and commitments from outside agencies including the State of Washington, Washington State Ferries, Sound Transit, the Port of Edmonds, BNSF railway, and Community Transit towards the project. The City is applying for a federal grants requesting upwards of $16.7 million from multiple United States Department of Transportation programs, such as the Better Utilizing Investments to Leverage Development (BUILD) grant program. The project is currently funded through design and we will continue to search for and identify potential funding sources as they become available.