A funding plan has been cobbled together to help make up the $54 million shortfall plaguing the Doyle Drive rebuild project.
The $1.04 billion undertaking to rebuild the aging southern approach to the Golden Gate Bridge hit a snag last month when officials acknowledged some funding for the project had not materialized as scheduled, leaving it with a $54 million hole and raising questions about its completion date.
However, a new plan has been developed under which three local and state agencies will provide funding to make up the shortfall, getting the project back on track, said Jose Luis Moscovich, executive director of the San Francisco County Transportation Authority.
The authority, which is heading up the undertaking, will contribute $10 million to help make up the shortfall, an allocation not included in the project’s original budget, Moscovich said. That money, which will come from San Francisco sales tax proceeds, is available because the economy has improved, giving the authority extra funds to use for projects, he said.
Another $10 million for the plan will come from Caltrans, the state’s transportation department, which is co-managing the project. That money also was not included in the project’s original funding plan, said Kome Ajise, the Caltrans representative working on the project.
Last, the biggest contribution will be a $34 million allocation from the Metropolitan Transportation Commission, the region’s lead transit financing agency. That money will come from federal funds not allocated for other regional projects, said MTC spokesman Randy Rentschler.
Rentschler said the MTC has agreed to recommend funding for the project now that Caltrans and the authority are also contributing.
“This is not our project, but this is a project we’re interested in getting done,” Rentschler said. “For that to happen, all parties concerned had to come to the table.”
The proposed funding allocations must still be approved by the respective governing boards of each agency. The MTC’s programming and allocations committee will vote to recommend the funding next Wednesday. The authority’s board of directors will vote on its allocation at a special meeting Tuesday. The Caltrans allocation must be approved by the California Transportation Commission, which could vote on the measure in March.
“The last bit of funding for these big projects is always complicated, since we’ve already tapped out so many sources,” Moscovich said. “But we think we’ve come out of this difficult process with something that’s going to work and will keep the project moving.”
$1.04 billion Total cost of the Doyle Drive rebuild project
$54M Current funding shortfall
$34M Funding set to be allocated from the Metropolitan Transportation Commission
$10M Funding set to be allocated from the San Francisco County Transportation Authority
$10M Funding set to be allocated from Caltrans
Sources: TA, MTC