The Greater Redmond Chamber of Commerce believes that public/private partnerships and targeted collaborations will be an integral part of our future ability for infrastructure development.
As we begin the gigantic pull out of our financial crisis, we will, in this country move towards a “resetting of the economy.”
This reset will change how we do business. Partnerships will be crucial and necessary for this country to move forward. All levels of government and business will have to collaborate in new ways to accomplish our needs and goals.
The Northeast 36th Street Bridge Project is a prime example of a working public/private partnership. This bridge will be utilized by the entire community.
Bridging both sides of the Microsoft campus, the bridge will also benefit DigiPen, Nintendo, Honeywell, Siemens and some 44,000 employees and 590-plus other firms in the Redmond/Overlake area.
The project further exemplifies the benefits of several levels of government collaborating with private business. Microsoft will contribute $17.5 million dollars to this public works project, $5,467,557 by the City of Redmond, and $11 million from the Federal Stimulus package. An additional $2,532,443 will come from Federal Highway Funding.
It is my understanding that the bridge scored a perfect 100 points in the technical ranking of regional projects judged by the Puget Sound Regional Council.
To wit; there were several hundred projects competing for a portion of the $79 million Federal Stimulus Funds.
Microsoft has a 5 to 1 multiplier effect. Many of the multiplier businesses are small and are located close to the Microsoft campus. Consequently they will benefit from the project as well.
Any and all monies that go to a project that supports companies who are financially solvent, prudent and stable, in this economy, boosts the entire regional outlook and in my mind is a sound investment.
The City of Redmond is in mid-process of redevelopment of the Overlake Urban Village (OUV). This area is adjacent to the service area of the 36th Avenue Bridge.
The development in OUV will be high density housing, mixed use retail, and commercial use in a walkable, accessible geographic area.
The bridge will be pedestrian and bicycle friendly. It also contributes to relieve area traffic flow.
The area that this bridge will serve is bifurcated by State Route 520. This state route is heavily trafficked at peak times and the new project will truly help with ingress and egress from homes and businesses in the area.
The project has gone through the planning process and is ready to “turn dirt.”
Again, looking forward, the Greater Redmond Chamber of Commerce is committed to work with business and government to accomplish our future goals.
Christine Hoffmann, Greater Redmond Chamber of Commerce CEO
