Agreements signed for federal and local funding that meet the $US 16bn cost of the new dual-bore tunnel and rehabilitation of the existing North River Tunnel.
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16 Billion, lol. Be lucky if it comes in closer to 100 Billion when all is said and done.
THE Gateway Development Commission (GDC), which is overseeing construction of a new twin-bore tunnel for the Northeast Corridor (NEC) beneath the Hudson River between New York City and New Jersey, signed financing agreements on July 8 securing the full $US 16bn needed to deliver the project.
The federal government confirmed that it would award the $US 6.88bn grant to GDC last month. The project has secured a total of $US 12bn in federal government funding, which is described as “the largest federal commitment to a rail transportation project in modern history.”
”After decades of delays, the Gateway Hudson Tunnel Project is finally moving forward,” says New York governor, Ms Kathy Hochul. “This Full Funding Grant Agreement will provide the critical resources needed to deliver an essential piece of infrastructure that will bring millions of visitors to New York every year.”
About fucking time. This should have happened years ago, but Chris Christie decided the New Jersey turnpike was more important.
Here is the archived version.