The Board of Commissioners of the Port Authority of New York & New Jersey (PANYNJ) has issued a $32 billion draft 2017-2026 Capital Plan for public comment and review. Meetings will be held on January 31, 2017, at Port Authority offices at 4 World Trade Center and at the Port Authority offices at 2 Montgomery Street in Jersey City.
“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 John Degnan, PANYNJ chairman. “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.”
The plan outlines new major capital projects the agency will invest in over the next 10 years, including a new AirTrain system to serve LaGuardia Airport and $1.7 billion to build a new connection linking PATH trains to Newark Liberty International Airport’s Rail Link Station.
The plan also includes PATH’s signal replacement program and upgrades to the Harrison and Grove Street PATH stations.
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.
“This region needs new and upgraded transportation infrastructure to deal with regional growth,” stated PANYNJ Executive Director Pat Foye. “This ambitious plan proposes to invest billions to maintain the agency's world-class bridges, tunnels, airports, seaport and PATH system in a state of good repair while continuing to rebuild and expand existing facilities and build new ones to meet the region’s growth.”
The public comment period on the document will begin once it is posted and will continue through February 15, 2017.