Location |
San Francisco, California |
Project Sponsor / Borrower |
Transbay Joint Powers Authority (TJPA) |
Program Areas |
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Fiscal Year Approved |
Fiscal Year 2010 |
Mode |
Intermodal |
Description |
TJPA was created in 2001 as a collaboration of Bay Area government and transportation agencies to design, build, operate, and maintain the new Transbay Transit Center, which will replace the existing Transbay Terminal that serves local, regional, and intercity bus transit. Its Board of Directors is composed of representatives from the City and County of San Francisco, including the San Francisco Municipal Railway (MUNI), the Office of the Mayor and the Board of Supervisors; the Alameda-Contra Costa Transit District (AC Transit); and the Peninsula Corridor Joint Powers Board-Caltrain, composed of the City and County of San Francisco, the San Mateo County Transit District, and the Santa Clara Valley Transportation Authority. The Transbay Transit Center Project will replace the Transbay Terminal with a new multi-modal transportation center and centralize the region's transportation network by accommodating nine transportation systems under one roof. The project consists of three components:
The project is being developed in two phases. Phase 1 includes the Transit Center building and the below-grade rail levels. Phase 2 includes the Caltrain Downtown Extension Program. A Temporary Terminal serves existing bus passengers - AC Transit, WestCAT, MUNI, Golden Gate Transit, SamTrans, and Greyhound - while the new transit center is under construction. |
Cost |
Total program cost: $4,185 million Total Cost for Phase 1: $1,899 million |
Funding Sources |
Phase 1 only. Funding for Phase 2 is still being secured. Local:
Regional:
State:
Federal:
Note: individual funding sources, when totaled, amount to $1,907 million due to $8.5 million in bridge financing that will be deducted following receipt of TIFIA funds. |
Project Delivery / Contract Method |
The San Francisco Redevelopment Agency (SFRA) in collaboration with the Transbay Joint Powers Authority will develop the project through competitive bid by private developers under the SFRA's Redevelopment plan. |
Private Partner |
None |
Project Advisors / Consultants |
Pelli Clarke Pelli Architects/Hines - Transit Center design and development team Webcor Obayashi, Joint Venture - Construction management Orrick, Herrington & Sutcliffe - Bond counsel To USDOT TIFIA JPO:
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Lenders |
USDOT TIFIA |
Duration / Status |
Temporary terminal construction started in December
2008 Phase 2 substantial completion in 2018 |
TIFIA Credit Assistance |
Credit agreement signed on January 25, 2010 The TIFIA loan is secured by a senior lien on Project Revenues, which include dedicated tax increment revenues from land sold and developed in the state-owned parcels surrounding the Transit Center, and a commitment of passenger facilities charges from the Transit Center's initial primary tenant, AC Transit. |
Financial Status / Financial Performance |
TIFIA loan closed on January 25, 2010 Sources for repayment of the TIFIA loan include tax increment from state-owned parcels (98% of revenues) and passenger facility charges (PFCs) from AC Transit (2% of revenues). |
Innovations |
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Related Links / Articles |
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Contacts |
Maria Ayerdi-Kaplan |