Sound Transit passes funding gap plan, prompting a sweeping overhaul of its ST3 expansion plan and delaying some projects while seeking new revenue sources. SEATTLE — Sound Transit’s governing board approved a sweeping overhaul of its voter-approved ST3 expansion plan Thursday, acknowledging a projected $34.5 billion funding gap that agency leaders say makes the original schedule unaffordable. The vote follows months of discussion over rising construction costs, inflation, lower-than-expected revenues and increasing operating expenses that have left the agency unable to fully fund the regional transit expansion package voters approved in 2016. This story continues below. An…
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The vote comes as the regional transit agency faces rising construction costs, inflation and lower-than-expected revenue projections. SEATTLE — Sound Transit’s governing board approved a long-term plan Thursday aimed at addressing a projected $34 billion funding gapformally acknowledging that major transit projects approved by voters nearly a decade ago cannot all be delivered on their original timelines. The board approved the resolution in a 16-2 vote following hours of public comment and debate at Union Station in Seattle. This story continues below. The vote comes as the regional transit agency faces rising construction costs, inflation and lower-than-expected…