Multnomah County News Release
February 3, 2011
Multnomah County and the City of Portland have completed a historic agreement to fund the new Sellwood Bridge. The agreement was approved by the Portland City Council on February 2 and by Multnomah County's Board of Commissioners on February 3.
The City of Portland will provide up to $100 million to fund the new bridge. Recent project cost savings are expected to reduce the City's contribution to $80 million. The City's total contribution will be determined when the project is completed in four to five years. Funds will come from Portland's share of new transportation revenue from the 2009 Oregon Jobs and Transportation Act.
With today's agreement, $270 million has been secured for the project. Other sources include $127 from Multnomah County, $30 million from the state of Oregon, $22 million from Clackamas County, and $11 million from the federal government. Multnomah County is working to secure federal funds for the remaining $20 million needed.
"Frankly, replacing the Sellwood Bridge is something Multnomah County could not have done alone," said County Chair Jeff Cogen. "We've made great progress to replace the bridge because of the partnerships we've built with the City, Clackamas County, the state and federal governments."
"This agreement is an important two-for-one deal," said Portland Mayor Sam Adams before the County Board voted. "We fund a new Sellwood Bridge and we also close a funding gap for the new light rail line project to Milwaukie."
The reduced cost of the new Sellwood Bridge will allow the City to contribute $20 million to the light rail project.
"The Sellwood Bridge serves a regional need," said County Commissioner Deborah Kafoury, whose district includes the bridge. "The contributions from Portland and Clackamas County are essential to funding a new bridge."