Minutes ExhibitA
Port Commission Special Meeting
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What is Initiative 123?

Initiative 123 brings Seattle voters a choice about how they want the downtown waterfront to redevelop. It
is a clear vision for a much-improved downtown waterfront plan that is worthy of the City of Seattle. We need
a waterfront redevelopment plan that catapults us into the future and one that responds to the unique and
eclectic context of Alaskan Way, not one that leaves Seattleites scratching their heads wondering what's in it for
them and their businesses.

Initiative 123 establishes a Downtown Waterfront Preservation and Development Authority (like Pike Place
Market Preservation and Development Authority) to efficiently and accountably build and operate a 6-acre,
milelong elevated park and other amenities along Alaskan Way. The brand new garden bridge would be built
after the viaduct comes down with the purpose of preserving and celebrating the spectacular public view asset
currently afforded from the upper deck of the old viaduct. Alaskan Way Elevated Park would be a fully
accessible flat park stretching from Pike Place Market to CenturyLink Field with a grand gateway connection to
downtown at Union St., seamless integration to Pike Place Market and the new MarketFront building as well as
a proposed direct connection at 55' to CenturyLink Field and a ramp down to 1St Ave. Elevators and steps every
few blocks would continuously connect Alaskan Way to the park.

The DWPDA would also develop anchor buildings at each end of the park to both activate the park with diverse
uses and raise revenue to make the operation and maintenance of the park sustainable. A twelve member
appointed and elected council would govern the DWPDA. Public Development Authorities in Seattle are City of
Seattle government corporation entities. As with the other 8 PDAs, the DWPDA would be administered by the
Office of Intergovernmental Relations in the Mayor's Office. Additionally, positions on the PDA Council all
require approval by the Seattle City Council and the State Auditor audits the books of PDAs annually and
conducts performance audits every 3 years.

Why vote YES on Initiative 123?
Initiative 123 is a "triple bottom line" grand slam that speaks to Seattle's future livability and sustainability,
addresses our social justice priorities, improves environmental health and amps up the economic performance
of our City and the prosperity of Seattle businesses.
Culturally, Initiative 123 delivers an amazing open space legacy for Seattle's future that speaks to Seattle's
unique character and the people who actually live here, not more of what we already have in the way of
seasonal touristy attractions and amusements between the freight route and the buildings on the piers. What


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our city lacks is accessible, verdant, healthy, safe, and welcoming non-commercial open space downtown, not a
gigantic sidewalk along the piers that would be empty much of the time and an immense building ramp from the
market to Alaskan Way that creates a real no-man's land around it. Alaskan Way Elevated Park would be the
crown jewel element of our entire downtown; the magnetic romantic edge we currently lack and desperately
need.

Environmentally, Initiative 123 creates 6 acres of car-free healthy human habitat with over 2 acres of new
plantings and a continuous mile-long continuous corridor for flora and fauna, including humans. It will attract
people out oftheir cars and onto a park to get some exercise, walk the dog, tool around on bikes, play with the
kids, people watch, meet friends, orjust take an inspiring respite while enjoying the unstoppable view.
Economically, Initiative 123 outperforms the status quo plan in every way. A wonderful elevated park invites
more people to our downtown than touristy attractions between the freight route and the piers ever could. It
would create an authentic place that both locals and visitors would enjoy regularly. Cities already enjoying
elevated parks  Paris, New York, Chicago and more - illustrate this well and that is why 2 dozen cities are
putting together plans for elevated parks. Let's not miss the boat on this. We'll not have this once in a 100-year
opportunity again. Every business downtown would feel the positive reverberations of incorporating this
essential component to our downtown and property values increase so much more when adjacent to elevated
parks than busy freight routes and boardwalks.
Initiative 123 is smarter, better, cheaper and faster than the status quo downtown waterfront plan. What's
needed is a plan where everyone wins  including Seattleites  and the tunnel pause has presented an
opportunity to adjust the plan so it does just that. If we build the tragic mistakes embedded in the status quo
plan (see Fixing the Top 10 Glitches) and assume the significant risk of imprudent investment associated with
that plan we're selling the people, the businesses, the environment and our entire City's future short.

When we say smarter, we mean it. The downtown waterfront plan has to perform beautifully and the Initiative
123 plan will do just that. Old ideas about more and more touristy attractions being better for our tourist

economy are yesterday at best. Tourists today, just like locals, enjoy authentic places. Additionally, we need to
hit multiple targets when we redevelop this area. We need a worldclass aquarium, a downtown elementary
school, and a complete neighborhood which are all possibilities with Initiative 123.
Alaskan Way Elevated Park makes a better city. Seattleites just don't care that much about touristy attractions
along the piers and when you don't see locals, you can bet you're missing a lot of other visitors as well. It adds
value on so many levels and increases our per capita open space. When we say open space we mean a real civic
amenity, not a streetscape with ferry loading and unloading and service driveways dissecting it and very little
view. That is not what a real promenade is made of. Elevating the promenade changes everything.
Cheaper means we pay the same as the status quo plan, yet we get much more in the way of a real park with a
spectacular view. Additionally, we're not disposing of the public view asset currently valued at half a billion
dollars. It also means Initiative 123 will bring more revenue to our City and our businesses. As an added bonus,
Public Development Authorities bring a higher level of accountability and efficiency to projects. PDA budgets
lack the massive wiggle room that can exist with the projects run by the larger general city government
bureaucracy as we've seen with the seawall going $300M or roughly 2X over budget and it's not done yet.
Faster is because we don't have to wait for the viaduct to come down to rebuild the roadway because Alaskan
Way stays roughly oriented to the west side of the street unlike the status quo plan that moves it to the east
side of the street. As soon as the seawall is wrapped up, the roadway can be put back together and then phase 2
would bring the removal of the viaduct and construction of the elevated park and anchor buildings when the
tunnel is complete.

When? Ballots arrive in mid-July. Election Day is August 2. Vote YES on 123.

voteyeson123.org   facebook.com/alaskanwayelevatedpark   twitter @initiatlve123

Paid for by Yes on Initiative 123