TRANSBAY JOINT POWERS AUTHORITY ANNOUNCES CONDITIONAL “AGREEMENT-IN-PRINCIPLE” FOR GLOBAL RESOLUTION OF MILLENNIUM TOWER LITIGATION

San Francisco, CA – The Transbay Joint Powers Authority (TJPA) today announced that a conditional “agreement-in-principle” to resolve the litigation related to the excessive vertical movement and tilt of the Millennium Tower has been reached among many parties to the litigation.

The fact of the conditional agreement-in-principle was reported today in a public hearing in San Francisco Superior Court.  The “agreement-in-principle” was reached through mediation and is subject to a number of conditions including, among others, the approval of a proposed retrofit that would add to the Millennium Tower piles that go to bedrock.

TJPA cannot comment on any additional details of this conditional agreement-in-principle at this time as those details are being addressed through a confidential mediation process.  The TJPA will continue to work with the parties and the mediators in an effort to finalize a global settlement.

The TJPA has denied and continues to deny allegations that construction of the Transit Center caused any excessive movement or tilt experienced by the Millennium Tower. The TJPA’s detailed position can be found in public filings made with the court and in this previous press release.

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