If the Puget Sound Regional Council‘s executive committee agrees with the action that a council subgroup just took, the money committed to a replacement South Park Bridge – eight days after the old one shut down permanently – will be up to $95 million. Read on for the announcement just in from PSRC:

The Puget Sound Regional Council’s Transportation Policy Board unanimously recommended $15 million in funding be reallocated to the South Park Bridge. The $15 million is targeted for demolition of the existing structure and can be used this summer to help create jobs. PSRC’s Executive Board is expected to take final action on the proposed funding on July 22.

King County Executive Dow Constantine told the Board that the $15 million puts the County “within striking distance” of what the county could expect from the federal government through a grant the county will seek at the end of this month.

The Puget Sound Regional Council began funding efforts to replace the South Park Bridge in 1999 and provided additional funds in 2002, 2006, and 2009. The bridge serves two regionally designated Manufacturing and Industrial Centers which together support roughly 80,000 jobs. PSRC has provided the project a total of $9.7 million to date.

The existing South Park Bridge closed on June 30 due to extensive structural problems. In recent weeks, significant progress has been made toward securing funding for a new bridge. The City of Seattle, King County, Port of Seattle and Washington State have pledged $70 million toward the $130 million replacement bridge.