The Port Authority of New York and New Jersey released its proposed 10-year capital plan on Wednesday evening, opening a month-long comment period on the $32.2 billion infrastructure blueprint.
New Jersey Gov. Chris Christie and New York Gov. Andrew Cuomo have both signed off on the plan, according to their appointees at the agency. The board of commissioners voted unanimously last week to introduce the proposal, even though one member raised concerns about two airport-related train projects.
Notably, the final draft lays out $3.5 billion for a new Port Authority bus terminal. While it does say the agency will seek federal grant money to help with that cost, it doesn't make that total contingent upon receiving the grant. Initially, agency officials had said $500 million of that total would come from a grant.
The plan, which the Port says is the largest it has ever produced, provides $2.7 billion to cover debt payments for the Gateway rail tunnel.
In addition to the bus terminal, it includes funding for the following major projects:
Comments are due by Feb. 15and can be sent to this address: email@example.com.
Public hearings are planned for Jan. 31 and Feb. 7. The board plans to vote on the final draft on Feb. 16.
Read the plan: http://bit.ly/2ihTfXF