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New York and New Jersey agree to plan to fund train tunnel, bus terminal
Source: Reuters
U.S. | Thu Jan 5, 2017 | 6:22pm EST
New York and New Jersey agree to plan to fund train tunnel, bus terminal
By Hilary Russ | NEW YORK
The Port Authority of New York and New Jersey agreed to a $32 billion, 10-year capital plan on Thursday, including funding proposals for a new Hudson River train tunnel and a new Manhattan bus terminal.
The authority, which oversees many of the biggest transportation infrastructure projects in the region, faces a roughly $20 billion funding gap between what it wants to build and what it can afford to build.
The Port Authority operates airports, bridges and tunnels in the bi-state area, which produces at least 10 percent of the nation's economic output, according to the U.S. Census Bureau.
The draft plan is expected to be published on the authority's website in coming days. Public meetings will be held on Jan. 31 and Feb. 7 before the comment period closes on Feb. 15.
[font size=1]-snip-[/font]
The draft calls for $2.7 billion to help pay for the new rail tunnel, which is part of Amtrak's Gateway Program for its Northeast Corridor.
[font size=1]-snip-[/font]
New York and New Jersey agree to plan to fund train tunnel, bus terminal
By Hilary Russ | NEW YORK
The Port Authority of New York and New Jersey agreed to a $32 billion, 10-year capital plan on Thursday, including funding proposals for a new Hudson River train tunnel and a new Manhattan bus terminal.
The authority, which oversees many of the biggest transportation infrastructure projects in the region, faces a roughly $20 billion funding gap between what it wants to build and what it can afford to build.
The Port Authority operates airports, bridges and tunnels in the bi-state area, which produces at least 10 percent of the nation's economic output, according to the U.S. Census Bureau.
The draft plan is expected to be published on the authority's website in coming days. Public meetings will be held on Jan. 31 and Feb. 7 before the comment period closes on Feb. 15.
[font size=1]-snip-[/font]
The draft calls for $2.7 billion to help pay for the new rail tunnel, which is part of Amtrak's Gateway Program for its Northeast Corridor.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-new-york-new-jersey-transportation-idUSKBN14P2KN