California Closes on $1.1B Presidio Parkway P3 Financing
Nossaman is mentioned and Infrastructure Practice Group Co-Chair Geoffrey Yarema quoted in The Bond Buyer article "California Closes on $1.1B Presidio Parkway P3 Financing" discussing the financial close for the $1.1 billion Presidio Parkway Project, California's first transportation public-private partnership. A Nossaman team, led by Barney 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."