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Project Funding

Construction of the Presidio Parkway was planned in two major phases. Phase I was delivered through the traditional design-bid-build method. Phase II will be delivered through a public-private partnership.

Learn more about project delivery.

Project Capital Costs

  Phase I Phase II
    Public-private partnership
    Construction
Environmental $27,800,000  
Development and Design $50,100,000  
Right of Way $83,800,000  
Transaction, Construction Management and Oversight $59,100,000 $37,400,000
Construction $274,400,000  
Construction Completion Milestone Payment   $185,400,000
TIFIA Tranche A Loan Repayment   $91,000,000
TIFIA Tranche B Loan Repayment    
Reserve $1,100,000 $46,500,000
Availability Payments    
TOTAL $496,300,000 $360,300,000

Project Funding Available

  Phase I Phase II
Federal Grants $70,800,000 $5,900,000
American Recovery and Reinvestment Act $86,700,000 $46,000,000
State Highway Operations and Preservation Program $197,100,000 $72,200,000
State Highway Account    
Transportation Congestion Relief Program $15,000,000  
Prop K Sales Tax $29,600,000 $36,000,000
Regional Improvement Program $17,100,000 $67,000,000
State Local Partnership   $19,400,000
Metropolitan Transportation Commission Bridge Tolls $80,000,000  
Metropolitan Transportation Commission STC/CMAQ   $34,000,000
Golden Gate Bridge Highway and Transportation District   $75,000,000
Transportation Authority of Marin   $4,000,000
Sonoma County Transportation Authority   $1,000,000
TOTAL $496,300,000 $360,500,000

NOTE: Funds for Phase II Public-Private Partnership will be used to make a single milestone payment of $185 million to the concessionaire upon completion of construction and an additional payment of $91 million to defray a federal loan. Annual availability payments of $22.1 million will also be made that include: (1) repayment of the balance of capital investment; (2) operations and maintenance of the facility over the 30-year concession period, (3) renewal and hand back of the facility at the end of the concession.

Source: Presidio Parkway Financial Plan Update, June 30, 2012, submitted to Federal Highway Adminstration August 13, 2012

 
 
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