Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: December 2, 2010

Project Name: Presidio Parkway P3 Golden Gate Br Approach
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: A 30 year concession with a $1-billion revenue stream in availability payments to the developer. The project involves demolition of the current Doyle Drive southern approach to the Golden Gate Bridge and constructing a six-lane replacement facility through the Presidio park. The project is already in its first phase, which includes the first four contracts. With the award of the concession, contracts five through eight would now be financed through a private developer. Funding raised by the developer as debt and/or equity relies on 30 year commitment of the state and the San Francisco County Transportation Authority to make availability payments.
Delivery Method as described in the country where it's located: Design Build Operate Maintain
Is the project still active: Yes
Comments: First four contracts (of 8) alrady undertaken by the state/SFTA. Last 4 contracts will be financed by Hochtief/Meridiam on strength of 30 year revenue stream in availability payments.

Project Locations

Address: Doyle Drive
City: San Francisco
State: California
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: Long term 30 year concession agreement provides access to land to design, build, operate and maintain the facility -- which is toll free to users.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Concession arrangement provides yearly availability payments, which are conditioned upon facility being open for use and in contractually required state of service.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Direct Cash Support: Long Term (30 year) availability payments from governments to concessionaire.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Hochtief Concessions and Meridiam are providing debt and equity for financing the performance of contracts 5 through 8 and for ongoing O&M during the 30 year term. Details of debt/equity mix not yet known.

Checkbox Checked

From Producers as Equity: Hochtief Concessions and Meridiam are providing debt and equity for financing the performance of contracts 5 through 8 and for ongoing O&M during the 30 year term. Details of debt/equity mix not yet known.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Other
Forms required by California DOT, subsequent to authorization to enter into these forms of contract through California Senate Bill 4, in 2009. 

Project Value (If and As Known)

Date of Estimated Project Value: December 2, 2010
Project Value
Hard Cost
Hard & Soft Costs
Total
$500 Million - 2 Billion US
$2-10 Billion US
Array ( )

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