Fundraising

Four in running for $730m LA P3

The Accelerated Regional Transportation Improvements project is a six-part toll road ‘mega-project’.

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Four consortia are competing for a $730 million public-private partnership (PPP; P3) in Los Angeles concerning Interstate 5 (I-5) and California State Route 71 (SR 71).

‘Accelerate LA,’ ‘Accelerate Los Angeles,’ ‘LA Accelerated Mobility Partners’ and ‘LA Mobility Partners’ will vie for the so-called ‘Accelerated Regional Transportation Improvements Project’ (ARTI), according to a joint announcement from the State of California Department of Transportation (Caltrans) and Los Angeles Metropolitan Transportation Authority (LAMTA or LA Metro).

Each team will receive a Request for Proposals (RFP), said Donald Dwyer, deputy executive officer for LA Metro. Dwyer declined to detail which companies were involved in each consortium.

“We’re not announcing that publicly right now,” Dwyer said.

A preferred bidder is expected to be named in October 2014. ARTI is a design, build, finance, operate and maintain (DBFOM) toll road concession using an availability payment contract with a 35-year lease. The P3 is a six-part project. Fifteen-mile SR 71 is an expressway in Los Angeles while I-5 is a north-south interstate highway running parallel to the Pacific Ocean.

‘Element 1’ of the project will require the development of one high-occupancy toll (HOT) lane in each direction along I-5 North from State Route 14 (SR 14 to Parker Road); Element 2 will involve the design, construction, rehabilitation and maintenance of all of I-5 North from SR 14 to Parker Road.

Element 3 of the P3 will entail the reconstruction of SR 71 from Mission Boulevard to Interstate 10 (I-10) and the installation of a HOT lane in each direction; while Element 4 will require the reconstruction of SR 71 from State Route 60 (SR 60) to Rio Rancho Road and the addition of a HOT lane in either direction.

Elements 5 and 6 will entail the construction of a 16,300 linear foot sound wall along Interstate 210 (I-210) as well as the creation of a 28,500 linear foot sound wall along State Route 170 (SR 170) and Interstate 405 (I-405).

Los Angeles law firm Nossaman is advising Caltrans and the Authority on the ARTI project. LAMTA began mulling a P3 to address roadwork in Los Angeles County last June.