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Site Notification

Site Notification

Port of Long Beach - Gerald Desmond Bridge Replacement Project

Port of Long Beach Gerald Desmond Bridge Project
Alternate Project Name
Port of Long Beach
Project Type
Ports
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Board of Harbor Commissioners (Port of Long Beach)
Project Description

The Project is located at the Port of Long Beach at the southern end of State Route 710 in Los Angeles County.  It is the primary link between the ports of Long Beach and Los Angeles, the two largest ports in the United States, and the warehouses and rail yards north of the port.  It is also the primary connection between the communities of San Pedro and Long Beach, and it connects residents thereof to major employment centers.

The purpose of the Project is to replace the obsolete five-lane structure constructed in 1968 with a state of the art six-lane bridge.  The new bridge will: 1) accommodate increased vehicular traffic; 2) provide emergency lanes in both directions; 3) improve safety; and 4) reduce delays.   Its 205-foot vertical clearance will accommodate taller and larger cargo vessels.

Project Details
TIFIA Assistance
$500.00M
Primary Revenue Pledge
Port Revenues
Project Cost
$1561.00M
Fiscal Year Closed
FY2020
Funding Sources
Federal Funds - $726.2 million
State/Local - $187.2 million
TIFIA Loan - $500 million
Port Funds - $148 million
Project Participants
Public Sponsor: The City of Long Beach acting through its Harbor Dept Construction: In July of 2012 the Port entered into a design build contract with a joint venture comprised of Shimmick Construction Company, Inc. (“Shimmick”), FCC Const
Project Advisers/Consultants
To the Borrower:
• Financial Advisor: Public resources Advisory Group (PRAG)
• Legal: Kutak Rock

To USDOT Build America Bureau:
• Financial Advisor: IMG Rebel Group
• Demand Risk: WSP
• Legal Advisor: Norton Rose Fulbright US LLP
Project Lender
US DOT
Application Details
Applicant
Board of Harbor Commissioners (Port of Long Beach)
LOI Fiscal Year Received
FY2019
LOI Received Date
Credit Agreement Executed
Initial Eligibility Review
Review Complete
Creditworthiness Review
Review Complete
Application Review
Review Complete
TIFIA Request
$500.00M
Instrument Type
Direct Loan