US Federal Road Funds Transferred to New Jersey Tunnel for $1bn

US Federal Road Funds Transferred to New Jersey Tunnel for $1bn
May 20, 2007 6:27 pm

New Jersey Transit in the US now has nearly half of the $7.2bn needed to build a second commuter rail tunnel to New York City – giving it a big edge as it competes for federal funding to pay for the rest of the work, officials say.

The next step is to get the federal government to agree by 2008 to fund the rest of the project. Construction is expected to begin in 2009 and be completed in 2016.
The North Jersey Transportation Planning Authority unanimously approved Governor Corzine’s proposal Monday to swap $1bn in federal funding expected for roads to help build the Trans-Hudson Tunnel project.
The decision allows what some say is the state’s most important mass-transit project to stay “on schedule” as an environmental impact statement is completed, NJ Transit officials say.
“Our long-range plan identifies it as the region’s highest transit-expansion priority, and this funding approach puts us that much closer to seeing it become a reality,” said NJTPA Chairman Daniel P. Sullivan.
New Jersey has committed $500m and the Port Authority has approved up to $2bn for the tunnel. Raising $3.5bn overall is “significant” for a project that is only in its preliminary engineering phase, said Richard Sarles, executive director of NJ Transit. is a railway information and news platform. Website presents from all around the world railway sector news, developments, projects and tender for the sector specialists. Railwaynews supports to industry events and announced them for potential participants. Railwaynews plans to collecting data from all around the world, about railway infrastructure, rolling stock, railway transportation datum, geographical datum to present for railway professionals for short term. Railwaynews will build new platforms aims to high value railway business environment for all railway specialists, railway fans and especially railway suppliers and their decision makers. Railwaynews presents whole information from rail professionals to rail professionals.

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