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EVERETT COMPREHENSIVE PLAN <br />F. Transportation Financial Strategy <br />The Plan requires about $5.6 billion of investment for future improvements over the long-term <br />period, as illustrated on Figure 4.10. <br />Bike Lane <br />Improvements <br />$38 Million (1%) Sidewalk Improvements <br />Non -Motorized $104 Million (2%) <br />Trails and Bridges <br />$42 Million (1%) <br />Road Improvements <br />$3,264 Million (58%) <br />Long -Term Transportation Improvement Budget by Mode Figure 4.10. <br />The majority of this infrastructure investment (about $3.3 Billion or 58% of the Plan budget) will <br />be for improvements to road infrastructure. The City will work with State, County and other <br />local jurisdictions over the period of the Plan to develop adequate funding sources for these <br />projects. <br />To achieve the increased modal split in transit services and limit further needs to invest in roads, <br />a significant investment in transit services will also be required. This infrastructure investment <br />(about $2.2 Billion or 39% of the Plan budget) will be for high capacity light rail services to the <br />downtown and to major employers such as Boeing. The City will work with Sound Transit, <br />Community Transit, and other local jurisdictions over the period of the Plan to develop adequate <br />funding sources. <br />While significant investments are required for non -motorized elements of the Plan, they amount <br />to less than $200 million or 3% of the Plan budget. The City will work with the School Districts, <br />other local jurisdictions, and property developers to develop adequate funding sources. <br />The City will update its Transportation Impact Fee schedule to ensure that new development <br />pays a fair share of the costs of capital improvements and that all modes of capital <br />improvements, roads, transit and non -motorized, are included in the mitigation fee process. <br />1. Allocation of Transportation Resources and Monitoring Performance <br />Everett's transportation investment strategy for the Plan provides travel options sufficient to <br />accomplish the participation rates for mode -of -travel that are assumed in Table 3.1 and Figure <br />4.1. The implementation of planned transportation improvements and programs will <br />accommodate growth in areas that are designated for growth in the Plan. Following Plan <br />adoption, concurrency procedures will be applied to allocate committed transportation resources <br />TRANSPORTATION ELEMENT 66 <br />