Port Authority approves billions to fund these NY and NJ projects

Posted February 17, 2017

"I'm also convinced that if we are able to spend the $3.5 billion in this plan during the first 10 years, there's no way that it won't be completed". This includes (aside from the above-mentioned bus terminal) a $2 billion rehabilitation of the George Washington Bridge, and billions more spent on replacing the Bayonne Bridge and the Goethals Bridge.

The behavior "underscores the Hatfield and McCoy nature of how this agency operates", said John Wisniewski, a New Jersey assemblyman and candidate for governor. "But we need to get the projects moving", Foye said.

"This is the largest ever commitment of capital by the Port Authority to the region in its 96-year history", said Port Authority Executive Director Pat Foye.

"This plan has rail extensions that probably will result in economic development, probably will result in riders, but don't serve the immediate needs". "This 10-year plan provides a record level of investment in all of these areas that will meet and support the region's growth and serve as a major job creator for the next decade". The Port Authority is also encouraging travelers who arrive at the airport by vehicle to park in the Long-Term Lot (P10) for $18 a day.

"I'm very pleased, as you can probably tell, that we're finally moving ahead with this capital plan and specifically the plan for the bus terminal, which is a critical project-everyone acknowledges-for both NY and New Jersey residents", Degnan said.

The Port Authority on Thursday approved a capital plan that includes funding toward building a new midtown bus terminal-but many questions linger about a replacement facility and the larger fate of the cross-Hudson commute. For now, the Port Authority is hiring environmental and technical consultants as part of the ongoing planning process.

The plan, proposed in January and approved after a public response period, will guide repairs and expansions for the bi-state authority's capital projects through 2026. An additional 327 comments were emailed and 12 comments were received by mail. All projects remain subject to Board authorization processes, and, before they proceed, are subject to a rigorous "gates" review process before they proceed that look at agency revenue and the ability to finance them.