New York, New Jersey Reach Funding Pact For New Rail Tunnel

New York, New Jersey Reach Funding Pact For New Rail Tunnel

NY will fund $1.75 billion while New Jersey Transit will add $1.9 billion to the $1.9 billion already committed by the board of commissioners of the Port Authority of NY and New Jersey for a total of $5.55 billion. The official said the proposed cost for the project is actually $14.9 billion - when including the rehabilitation of the existing tunnel - and a portion of the money being committed by NY and New Jersey relies on federal dollars. The North River Tunnel, which opened in 1910 and is the only intercity passenger-rail crossing into New York City from New Jersey, was severally damaged by Hurricane Sandy in October 2012.

The commitment from the governors follows a 2015 framework agreement in which the federal government will fund 50% of the Gateway Tunnel project.

"It positions the project to immediately compete for federal Capital Investment Grant funds", said Christie.

Further compounding the issue is the lack of redundant capability across the Hudson River into Penn Station New York, resulting in a single point-of-failure.

NY and New Jersey have agreed on how to pay their share of an estimated $13 billion project to build a new rail tunnel under the Hudson River.

UFC chief Dana White warns Manny Pacquiao
Whether the UFC would allow Diaz to break from his contract and compete in the boxing ring, of course, is hard to say. He also admitted, however, the UFC needs to make a decision on the future of its 155-pound division.

Natural disaster hits Kerman Province in southeast Iran
In the epicenter of the quake, which struck at about 12:43 local time, the tremor measured magnitude 7-8 points. As a result, earthquakes in Iran occur often and are destructive.

Former Redskin Donovan McNabb accused of sexually inappropriate text messages
Taylor sent her a lewd video; Weinberger groped her and put his crotch up against her, Cantor said in the lawsuit . After getting fired in October of that year, the 51-year-old Cantor was replaced by a woman 21 years younger.

NJ Transit customers will be expected foot the cost of New Jersey's share of the project cost through user charges on trains using the new the tunnels in and out of Manhattan.

The Trump administration has not expressed whether it would honor or back away from the previous administration's agreement, though transit experts are anxious that the White House does not see eye-to-eye on the project's importance.

In letters sent to the U.S. Department of Transportation, the two governors say that they plan on underwriting a portion of the project's cost by relying on a loan from the DOT's Railroad Rehabilitation and Improvement Financing Program, reports Crain's. The fees will amount a $.90 charge each way beginning in 2020 and will increase to $1.70 in 2028 and $2.20 in 2038.

"Under Gov. Christie, New Jersey has consistently been the last one to the table, both on Gateway and its predecessor, Access to the Region's Core", said Nick Sifuentes, executive director of the Tri-State Transportation Campaign, citing the commuter rail project Christie killed in 2010.

However, New York State is now dealing with a budget crisis, facing a projected $4.4 billion deficit that must be eliminated before Cuomo releases a new budget in January. They believe the work is necessary to avoid the "disastrous scenario" of a closure of one of the two tubes of the existing Amtrak North River Tunnel, which would slow rail traffic to a crawl.

Related news:

loading...

Hot News

isis-killer-beheading-video-story-top Chance for snow in the Denver forecast for Wednesday night and Thursday
Dec 15, 2017 - 01:05
It stays dry during the day on Saturday but then Saturday night into Sunday morning we may see some light accumulation. Morning temperatures slowly rise into and through the 20s with afternoon highs only in the low-to-mid 30s.

isis-killer-beheading-video-story-top New Trailer for Alex Garland's 'Annihilation' Brings Futuristic Horror
Dec 14, 2017 - 03:17
Here we get to see Portman's character trying to find out what has happened to her husband. Today, the studio released a new trailer that shows off the utter strangeness of Area X.

isis-killer-beheading-video-story-top Mum Claims She Was Kicked Off A Flight For Breastfeeding Her Son
Dec 12, 2017 - 17:23
Attendants told her to put Lucas back in his seat and refused to listen when she asked if she could finish breastfeeding . Spirit Airlines stood by its decision to move Rui and her son in a statement provided to Houston's KHOU station .

isis-killer-beheading-video-story-top BC Government gives Site C project the green light
Dec 12, 2017 - 17:22
Opponents say continuing construction would force ranchers off their land and possibly infringe on First Nation treaty rights. The new project cost is now estimated at $10.7-billion, factoring in an increased risk contingency fund.

isis-killer-beheading-video-story-top S. Korea's arms sales jump 20% amid Pyongyang threats
Dec 12, 2017 - 17:21
French and Italian firms sold fewer arms, but sales rose by 6.6 percent in Germany alone, helped by demand for its tanks. Relatively rich western European companies reported stable arms sales while Russian Federation showed declining growth.

isis-killer-beheading-video-story-top MediEvil remaster heading to PS4 in 2018
Dec 11, 2017 - 00:27
Quantic Dream showcased an on-stage demo of Detroit: Become Human , which is now confirmed to be coming in spring 2018. Lastly, there's even a free game involved too! It will be available for free on the PlayStation Store on December 12.

isis-killer-beheading-video-story-top Trump Wants Washington Post Reporter Fired Over Misleading Tweet
Dec 11, 2017 - 00:26
Everyone knows this is not true, that this could, in fact, be a fraud on the American Public. At Friday's rally, Trump also criticized both ABC News and CNN, the Hill reports.

isis-killer-beheading-video-story-top 'What I am detained for?' Comedian Hannibal Buress arrested in Miami
Dec 11, 2017 - 00:24
Buress, 34, made headlines this summer after hiring a lookalike to attend the premiere of "Spider-Man: Homecoming" in his place. When the officer declined, Buress became "angry and belligerent".

isis-killer-beheading-video-story-top Sensex surges 246 points, Nifty above 10200
Dec 10, 2017 - 02:16
ITC emerged as the leader of the Sensex pack today, with a 3.44 percent rise, followed by Tata Motors at 2.21 percent. The small-cap and mid indices rose 1 per cent and 0.89 per cent.

isis-killer-beheading-video-story-top Amazon Echo and Music Unlimited coming to 28 new markets
Dec 10, 2017 - 02:07
The company has now extended the region of availability of its Amazon Echo and Amazon Music Play to 28 more countries. According to an article by Bloomberg , music executives have been disappointed with meager revenue from YouTube Red .

isis-killer-beheading-video-story-top YouTube prankster cements his head inside a microwave
Dec 10, 2017 - 01:54
Firefighters were called to a home in central England where they found a guy with his head cemented inside a microwave oven. The group had already spent an hour and a half trying to free the YouTuber before deciding to call the emergency services.

isis-killer-beheading-video-story-top Bayonetta for Switch getting a very nice deluxe edition in Japan
Dec 09, 2017 - 06:41
There are already plenty of Nintendo Switch games with female characters and Bayonetta 3 will be a welcome addition to the list. Buying the digital version of Bayonetta will cost you $29.99/ €29.99/ £29.99 and then Bayonetta 2 will run you $29.99/ €29.99.

isis-killer-beheading-video-story-top Why Jerusalem is Sacred Place For Muslims, Jews And Christians
Dec 09, 2017 - 06:41
The reaction to the decision is liable to be tempered by the fact that many Muslim countries are preoccupied with other issues. But this time he has done a silly mistake which has provided us a great opportunity to unite a divided Muslim Ummah.

Apple May Acquire Shazam in $401 Million Deal
Dec 09, 2017 - 06:39
The new features allow Shazam to build more strategic partnerships and drive engagement with the app. The Shazam app uses the microphone on a smartphone to identify nearly any song playing nearby.

isis-killer-beheading-video-story-top Arsenal boss Wenger insists he doesn't want to lose Giroud
Dec 08, 2017 - 00:03
Wilshere's chances of catching Gareth Southgate's eye are also slim unless he starts playing regular Premier League football. Of course we only come with things when they are done, but most of the time it's a year and a half - or more - of work'.