Nossaman Aids Caltrans In Closing $1.1B Parkway Project
Nossaman and Barney Allison are mentioned and Infrastructure Practice Group Co-Chair Geoffrey Yarema quoted in the Law360 article "Nossaman Aids Caltrans In Closing $1.1B Parkway Project" discussing the financial close for the $1.1 billion Presidio Parkway Project, California's first transportation public-private partnership. A Nossaman team, led by Mr. Allison, advised the California Department of Transportation on the procurement, financing and contracts for the project. The $1.1 billion deal 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 developed through an availability payment structure.
Mr. Yarema was quoted as saying, "Caltrans should be applauded for its efforts to improve access to the Golden Gate Bridge with little financial impact on the citizens of California." He continued, "This project proves that California can make needed transportation improvements using P3s [PPPs] and demonstrates the true value of a P3 delivery method."