PANYNJ proposes $27.6 billion capital plan for next 10 years

The Port Authority of New York and New Jersey (PANYNJ) yesterday unveiled a record $27.6 billion, 10-year proposed capital plan, which would continue the authority's efforts to recover from Hurricane Sandy.

The plan calls for $1 billion of capital investment over 10 years to pay for repair, mitigation and resiliency projects. More than $700 million would go toward repairs to the Port Authority Trans-Hudson (PATH) system, which was the most severely hurricane-impacted facility, authority officials said in a press release.

In addition, the plan calls for redevelopment of the Central Terminal Building at LaGuardia Airport; raising the Bayonne Bridge to ensure the long-term viability of the region's port; a PATH extension to Newark Liberty International Airport; replacement of the Goethals Bridge; upgrades to PATH's signal system; and reconstruction of the Lincoln Tunnel Helix, which will provide greater roadway capacity for future growth, PANYNJ officials said.

"We are committed to revitalizing the region's aging transportation infrastructure in a smart, cost-effective and efficient manner that allows us to get the most out of every dollar we invest," said Deputy Executive Director Deborah Gramiccioni. "The plan will serve as a living document subject to continued review and revision as necessary, ensuring a transparent and thoughtful process that benefits the region and our customers."

PATH's $3.3 billion capital program calls for three major projects: the replacement of the Harrison PATH Station, modernization of the Grove Street PATH Station and the extension to Newark's airport.

The $249 million Harrison Station project involves building a new station to replace the existing facility, which was built in 1936. The $192 million Grove Street project would provide improvements to accommodate 10-car train operations and new elevators that comply with ADA requirements. The $1.5 billion PATH extension — which for the first time would provide travelers a one-seat ride from Lower Manhattan to Newark Liberty International Airport — involves building track from a current terminus at Newark Penn Station to the airport’s Rail Link Station, PANYNJ officials said. The PATH program also calls for 71 core PATH projects, of which 77 percent involve state-of-good-repair work.

Also yesterday, PANYNJ released for public review a preliminary 2014 operating budget of $2.9 billion and a preliminary $4.4 billion capital budget that would maintain core operating expense growth at half the expected rate of inflation, enhance security at transportation facilities, and continue the agency’s resiliency efforts to rebuild and recover from Hurricane Sandy, authority officials said.