PANYNJ releases $32 billion 10-year capital plan

Written by Mischa Wanek-Libman, editor
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PANYNJ

The Port Authority of New York and New Jersey (PANYNJ) released its draft 10-year capital plan, which addresses $32 billion worth of projects in New York and New Jersey.

 

“Hard choices and robust debate led to a balanced 10-year Capital Plan to help meet the entire region’s enormous current and future transportation infrastructure needs,” said PANYNJ Chairman John Degnan. “These include a new, state-of-the-art Port Authority Bus Terminal for bus commuters, 21st-century airport terminals for fliers and more trains for rail riders.”

Highlights of the plan include:
• $3.5 billion for a new Port Authority Bus Terminal.
• $2.5 billion for the redevelopment of John F. Kennedy International Airport and a new AirTrain system to serve LaGuardia Airport.
• $2.3 billion to support the redevelopment of Terminal A at Newark Liberty International Airport.
• $600 million for the redevelopment of LaGuardia Airport’s Terminals C and D.
• $1.7 billion to build a new connection linking PATH trains to Newark Liberty International Airport’s Rail Link Station.

The plan includes $8.8 billion – or 30 percent of the total 10-year spending – for critical state-of-good-repair projects at the agency’s transportation facilities and $7.6 billion to finish projects currently in construction, such as PATH’s signal replacement program, upgrades to the Harrison and Grove Street PATH stations and the port and rail cargo facility at Greenville Yard. Of that $7.6 billion, a total of $2.5 billion will support LaGuardia Airport’s ongoing Terminal B redevelopment project.

The draft Capital Plan includes a total of $2.7 billion toward the payment of debt service for the critical Trans-Hudson rail tunnel link between New York and New Jersey. That includes an already approved $302 million toward debt service on the Gateway Development Program’s Portal Bridge North project.

“From the beginning, our position has been that financial parity is essential – and today, that goal has been realized,” said New York Gov. Andrew Cuomo. “This successful resolution was a direct result of all parties working together to fund important projects on both sides of the Hudson.”

PANYNJ will publish details of the plan on its website shortly and is planning the largest community outreach effort in the agency’s history to ensure the public can provide input on the plan’s contents. PANYNJ said the public comment period on the document will begin once it is posted and will continue through February 15, 2017. The PANYNJ Board of Commissioners will carefully review all of the input before taking action on the plan at its Feb. 16, 2017 meeting. The outreach will include two public meetings, one in each state, a measure previously not undertaken prior to previous Capital Plan adoptions. The meetings will be attended by at least two commissioners, one from each state, as well as the executive director and chief financial officer.

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