The Gateway Tunnel rail project connecting New Jersey to Manhattan has received a commitment for $70 million in an effort to fast-track the long-delayed estimated $20 billion initiative.
The Port Authority of New York and New Jersey announced Wednesday it has pledged $35 million for preliminary engineering work with funding approval expected at its Thursday afternoon board of commissioners meeting. The $35 million is also being matched by Amtrak. U.S. Transportation Secretary Anthony Foxx also said Wednesday his department will accelerate federal environmental reviews and permits for the tunnel project.
The existing Amtrak tunnels under the Hudson River, which are also used by New Jersey Transit commuter trains, are more than a century old and in need of significant repairs after incurring water damage from Hurricane Sandy in October 2012. Around 200,000 use the tunnels daily and Port Authority officials have estimated a $100 million cost to the nation in transportation-related impacts and productivity losses impact if they were to be taken out of service for a day.
U.S. senators Chuck Schumer, D-N.Y. and Cory Booker, D-N.J. secured a commitment last fall from the U.S. Department of Transportation and Amtrak to cover no less than 50% of project costs via grants and funding from other federal government sources. New York and New Jersey are slated to fund the remainder of the project with the Port Authority taking the lead on financing.
