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7/18/2019
New Jersey Transit's board yesterday adopted a fiscal-year 2020 $2.39 billion operating budget and a $1.42 billion capital program.
The capital program funds continue state-of-good-repair investments in transit stations and infrastructure, investments in the Northeast Corridor, fare modernization, safety initiatives, rail car purchases, positive train control installation, system expansion and support for local mobility programs, NJ Transit officials said in a press release.
The capital program covers several major projects, including $326 million for rail infrastructure improvements. Those improvements will include $58 million for bridges; $24 million to fund electric traction and signal improvements, $95 million for the County Yard Expansion, $18 million to fund the track program, $36 million to replace the Mason Building 9 substation and $51 million for Portal North Bridge.
In addition, the capital program calls for $65 million to be invested in the capital lease for the Passenger Rail Investment and Improvement Act payments to Amtrak; $33 million for the Hudson-Bergen light-rail Northern Branch extension; $8.8 million for the Lackawanna cutoff project; $2 million for transit rail initiatives; and $94 million for rail rolling stock improvements.
Meanwhile, the FY2020 operating budget includes $482,000 for five additional light-rail operators on the Newark light-rail line to address staff shortages; $1.8 million for the New Jersey Transit Police Department to add 19 officers; and $14 million to hire additional locomotive engineer and assistant conductor trainees.
More than 40 percent of the revenue in the FY2020 operating budget comes from passenger revenue. The remaining amount will be generated by combination of commercial revenue and state and federal resources, officials said.