In November, 2006, the Office of Seattle Mayor Greg Nickels announced a preliminary agreement between the City of Seattle and BNSF Railway to purchase the station for $1. The Seattle City Council formalized the agreement by passing legislation in December, 2006. The deal, revised to $10, was signed March 5, 2008. The purchase by the city freed up US$19 million of state and federal funds that was used for further restoration of the station. The city earmarked a further US$10 million for the restoration as part of a passed local transportation levy.