$46 million in stimulus funds start Presidio Parkway project second phase
| January 05, 2011 |
The California Department of Transportation (Caltrans) and the San Francisco County Transportation Authority (Authority) are one step closer to delivering the second phase of the Presidio Parkway project as they awarded the public-private partnership agreement to the selected bidder, Golden Link Partners.
On Jan. 3, the project received $46 million in funding from the American Recovery and Reinvestment Act of 2009 (ARRA), more commonly known as “the stimulus.”
“This is a major milestone for the Presidio Parkway project, as well as a significant innovation to our project delivery process,” said Caltrans Director Cindy McKim in a written press statement. “Caltrans is ready to take this vital step forward.”
Caltrans and the Authority were able to reach agreement with Golden Link Partners after the required 60-day comment process by the State Legislature and the Public Infrastructure Advisory Commission. The agreement sets the terms to enable Golden Link Partners to design and build the second phase of the project as well as operate and maintain the facility for 30 years.
The Presidio Parkway project, the Doyle Drive replacement, will be the first transportation project in California to be delivered through a public-private partnership under the authority of Senate Bill X 2 4.
“The Presidio Parkway is a perfect candidate for such a partnership, which will bring the best practices of both the public and private sectors to bear on this project,” added José Luis Moscovich, executive director of the San Francisco County Transportation Authority.
The next major milestone of the project will be reaching a financial agreement by the end of summer 2011. Construction activities on the second phase of the project will begin in late 2011 and continue through early 2015, and involves construction of a new northbound bridge and Battery Tunnel, the Main Post Tunnels, and the Doyle Drive/Girard Road/Marina Boulevard/Richardson Avenue interchange.
California has obligated nearly $2.6 billion in Recovery Act funding to nearly 1,000 highway, local street, and job training transportation projects statewide. For more information on the Recovery Act visit http://recovery.ca.gov/.
For more information, visit www.presidioparkway.org.