(The Center Square) – The Seattle City Council voted 7-2 Tuesday in favor of loaning the Seattle Aquarium $20 million to keep its planned expansion on time.
The aquarium, located on the waterfront in Downtown Seattle, sees many tourists visit from cruise ships. The aquarium planned an “ocean pavilion” 13 years ago, in what is seen by some city officials as an integral component of the overall Central Waterfront Program.
The initial projected cost was $120 million. However, the COVID-19 pandemic, supply chain problems and unplanned additions have increased the expansion cost to $160 million, according to the council bill.
The $20 million interfund loan comes from the Real Estate Excise Tax Fund. The Seattle Aquarium Society (SEAS) would reimburse the city by the end of June 2030, through the addition of a “Enhanced Facility Fee” schedule in the existing Aquarium Operations and Management Agreement, according to the council bill.
Seattle City Councilmember Kshama Sawant spoke out in opposition to the ordinance, saying the aquarium could potentially raise ticket prices in order to repay the loan.
“If this increased funding is paid for by ticket sales, I would be concerned about what that would mean for those ticket costs for many people,” Sawant said in the council meeting. “I think that $20 million would be better spent on maintaining our parks throughout this city.”
Seattle City Councilmember Andrew Lewis voted in favor of the ordinance. He emphasized that the $20 million is a loan that will be repaid and that it prevents costly delays for the Ocean Pavilion construction.
“This policy is a way without raising additional taxes, without incurring a substantial amount of risk,” Lewis said. “We also know that Downtown Seattle’s recovery is linked to the viability and success of our Waterfront Project and the placemaking that comes with it.”
In 2019, SEAS and the City of Seattle entered into an Ocean Pavilion Funding Agreement in which the city agreed to commit $34 million towards the capital costs of the Ocean Pavilion project and SEAS agreed to secure the balance of funds necessary through other government resources and private contributions.
The pavilion will include a 325,000-gallon tank for sharks, rays, tropical fish and various types of coral as the centerpiece.
The current construction schedule allows for the completion of all major elements of the Seattle Waterfront Program by 2025. The overall project is estimated to cost approximately $835 million across all relevant city departments with the inclusion of utility relocation costs.
