This GeekWire interview with Mayor McGinn indicates that blazing-fast internet may not be arriving in Seattle as promised:

Financing problems are forcing Gigabit Squared to delay plans to implement a high-speed Internet network in 12 Seattle neighborhoods using the city’s dormant “dark fiber” network.

Seattle Mayor Mike McGinn — a longtime champion of the project who will leave office at the end of the year — acknowledged the setback in an interview with GeekWire this afternoon. He said Gigabit Squared, the company behind the project, is having problems securing financing to install the network, and he raised questions about the project’s future.

“We’re now a year into it and the question is, will it work or not?” McGinn said inside his office at City Hall. He acknowledged that he’s ”very concerned it’s not going to work.”

GeekWire contacted Gigabit Squared for comment, but a company representative said executives were unavailable for comment this afternoon.

It's an interesting piece and you should read the whole thing. In the article, McGinn says that if public financing won't work, "it’s time for Seattle to consider using tax dollars for a city-run network." That decision, of course, will be up to incoming Mayor Murray, who received thousands upon thousands of dollars from Comcast in the run-up to the election.