Hill International Receives $16 Million Program Management Contract From the Los Angeles Metro
Hill International (NYSE: HIL) announced today that it has received a contract from the Los Angeles County Metropolitan Transportation Authority (Metro) to provide program management support and implementation services. The contract, which has a three-year base term and two one-year option terms, has an estimated value to Hill of approximately $16.1 million.
In November 2008, Measure R passed providing Metro with a potential $40 billion in revenue to improve transportation and transit in the Los Angeles basin. Measure R funds, which will be provided through a ½¢ increase in sales tax, will allow Metro to fund a number of transit and highway projects over the 30-year period that the measure is in effect. To accelerate key projects, Metro's Board directed Metro leadership to prioritize a set of projects for delivery within 10 years. These projects are identified in the Measure R 30/10 Transit and Accelerated Highway Program.
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