Geoffrey Yarema Named "P3 Private Sector Entrepreneur of the Year"
On October 10 through 12, the American Road & Transportation Builders Association (ARTBA) held their 24th Annual Public-Private Partnerships in Transportation Conference in Washington, DC. Each year during this conference, the ARTBA P3 Division honors two individuals, one public sector and one private sector, for their exemplary contributions to the transportation industry.
This year we are proud to announce that Nossaman Partner Geoffrey Yarema was named "P3 Private Sector Entrepreneur of the Year." Mr. Yarema is the first two-time recipient of this award, having received the award previously in 2003. Mr. Yarema was recognized for his outstanding contributions to the advancement of P3s within the transportation construction industry, particularly for his involvement in the National Surface Transportation Infrastructure Financing Commission and the Moving Ahead for Progress in the 21st Century Act (MAP-21), a measure to reauthorize transportation funding through the end of 2014.
Additionally, Tony Kinn of Virginia's Office of Transportation Public-Private Partnerships (OTP3) was named "P3 Public Sector Entrepreneur of the Year." Appointed as the director of OTP3 in 2011, Mr. Kinn is in charge of one of the largest P3 transportation programs in the United States. This year, he oversaw the financial closing of two major Virginia Department of Transportation (VDOT) P3 projects, including the Midtown Tunnel Project in April. A Nossaman team, led by Simon Santiago, advised VDOT on the $2.1 billion Midtown Tunnel Project, which is comprised of a new two-lane tunnel adjacent to the existing Midtown Tunnel, the maintenance and safety improvements to the existing Midtown and Downtown Tunnels, and an extension of the MLK Freeway to Interstate 264.
In addition to the individual awards, each year ARTBA recognizes projects for the innovation that they brought to the process of public-private partnerships in the United States. We would like to congratulate the California Department of Transportation and the San Francisco County Transportation Authority for the Presidio Parkway Project's recognition as "P3 Project of the Year." A Nossaman team, led by Barney Allison, advised Caltrans on the $1.1 billion deal, which will be the first transportation P3 in California under the recently enacted P3 statute, Streets and Highways Code section 143, and only the third highway project in the United States developed through an availability payment structure.
Established in 1902, ARTBA is the oldest national transportation construction-related association. Their primary goal is to aggressively grow and protect transportation infrastructure investment to meet the public and business demand for safe and efficient travel.