Washington State Public Works Board recommends $ 173.8 million to fund 51 projects
Recommendations set stage for economic development through investment in critical infrastructure.
The Washington State Public Works Board today unanimously voted to move 51 projects forward for funding consideration by Gov. Inslee and the state Legislature. Target results for these projects focus on a cleaner Puget Sound, energy savings, and improved traffic flow to help bolster economic growth and job creation throughout our state.
The Board also recommended a reduced interest rate for all projects located in communities that have been declared a natural disaster, and proposed an additional 1.2 million to address future emergency projects.
“The Board is pleased to provide 11 fire impacted communities, and four other communities that have been declared a natural disaster, the modest benefit of a substantially reduced interest rate on roadway and, water and sewer system loans needed to assist in their recovery from the tragic losses they have incurred,” said Stan Finkelstein, Public Works Board Chair.
“For every million dollars invested in infrastructure approximately 10 construction related jobs are produced. These projects will create more than 1500 jobs. More than $263 million was requested from this program; this demonstrates a strong need for infrastructure investment exists in Washington State,” said Kendee Yamaguchi, Assistant Director for Local Government and Infrastructure at the Department of Commerce.
The projects recommended for funding will be available for viewing on August 9th at www.pwb.wa.gov.
The 2016 construction loan list is the Board’s first funding recommendation since 2013 due to the state budget crisis and slow pace of economic recovery. Pending approval by the Governor and Legislature, contracts could be awarded as early as July 2015.
The mission of the Public Works Board is to provide financial and technical assistance to Washington communities for critical public health, safety, and environmental infrastructure that supports community and economic vitality. The Board is comprised of 13 board members, appointed by the Governor for four year terms. Three represent counties, three represent cities, three represent special purpose districts, and four are from the private sector.