PANYNJ proposes $32 billion capital plan

The Port Authority of New York and New Jersey (PANYNJ) last week unveiled a $32 billion, 10-year capital plan that includes $2.7 billion to rebuild the rail tunnel between New York and New Jersey.

The plan outlines the board's proposals for new and ongoing projects for 2017-2026. New projects to be invested in include $2.7 billion toward the payment of debt service for the Trans-Hudson rail link between New York and New Jersey. That amount includes an already approved $302 million toward debt service on the Gateway Development Program's Portal Bridge North project, according to a PANYNJ press release.

In addition, the proposal calls for $1.7 billion to build a new connection linking PATH trains to Newark Liberty International Airport's rail link station.

For projects already underway, the plan includes funds for PATH's signal replacement program, upgrades to the Harrison and Grove street stations, and the port-and-rail cargo facility at Greenville Yard.

The authority will hold public meetings on the capital plan Jan. 31 at PANYNJ offices at 4 World Trade Center in Manhattan and Feb. 7 at its offices at 2 Montgomery Street in Jersey City, N.J.

"This region needs new and upgraded transportation infrastructure to deal with regional growth," said PANYNJ Authority 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."