We are thrilled to announce that earlier this week the Salinas City Council, in a unanimous 7-0 vote, approved two new facilities that are in partnership with PFG. The council approved a new Police Headquarters and a new public library that will replace their existing facility. Both projects use the New American Approach P3 model. PFG will privately finance the projects on-behalf-of the City using privately issued tax-exempt debt. PFG will also act as the on-behalf-of owner for the City until the debt is retired, at which point ownership will revert to the City at no additional cost.
“Pursuing an alternative delivery approach like the New American Approach can be intimidating and uncomfortable for local governments. I think the Salinas City Council and the City of Salinas staff have done an amazing job on pushing these projects forward. They deserve a lot of credit.” John Finke, President of PFG, “We are proud to be a partner on these projects and are fully committed to delivering high quality buildings that are brought in on schedule and on budget.”
Griffin Swinerton, a joint venture between Griffin Structures, Inc. and Swinerton Builders, will act as the Developer and Construction Manager for both projects. Both companies have extensive experience in developing and delivering public facilities for California local governments. The Architect for the new police station is LPA, Inc. and El Gabilan Library is designed by Anderson Brule Architects.