SAN FRANCISCO — California’s first public-private project got a $1.1 billion boost from the recently passed state budget, which will fund construction of a new six-lane roadway linking San Francisco and the Golden Gate Bridge.

The allocation for the Presidio Parkway Project will be paid out over the 30 years of the contract with the selected developer to cover milestone and availability payments. The lump sum ensures project completion will not be dependent on future allocations.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.