ACEC California Welcomes CTC Approval of Presidio Parkway P3

SACRAMENTO – May 20, 2010 – ACEC California today applauded the California Transportation Commission (CTC) for its timely approval today of the proposed public-private partnership (P3) project called Presidio Parkway, which will dramatically improve the southern approach to the Golden Gate Bridge.

The CTC's voted on a project submittal sponsored by the San Francisco County Transportation Agency and Caltrans under SB XX4, legislation passed last year to allow the use of P3 to deliver some important transportation projects in California. SB XX4 was enacted in an effort to build appropriate transportation projects more efficiently and achieve faster delivery while transferring risk to the private sector and reducing overall project costs. Presidio Parkway is the first project to be brought before the CTC for P3 approval under the legislation and has been strongly endorsed by ACEC California and other parties.

“Presidio Parkway is a badly needed project to improve traffic mobility and public safety in the San Francisco approach to the Golden Gate Bridge and it can now move forward expeditiousl. The project is a high standard solution for meeting tomorrow’s traffic needs and safety standards,” said Paul Meyer, executive director of ACEC California.

“Thanks to SB XX4, California is now able to utilize –- albeit it on a limited basis -- what has become a valued and accepted project delivery system throughout the world. Not every project is appropriate for a P3 delivery but public agencies do now have a valuable tool for speeding up the delivery of needed projects without having to take on all the risk and that is a very positive development for California taxpayers,” Meyer added.