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Yesterday, the New Jersey Transit board adopted a $1.6 billion operating and $1.3 billion capital budget for fiscal-year 2008.
The operating budget is being funded in part through a $300 million contribution from the state, as well as $464 million in federal and state reimbursements. The spending plan includes funds for additional rail service.
The capital budget includes $100 million to advance the Access to the Region’s Core project, $85 million for track and bridge improvements, $57 million for rail station improvements, $22 million to replace the Portal Bridge and $2 million to upgrade Newark Light Rail infrastructure.
7/12/2007
Rail News: Rail Industry Trends
NJ Transit signs off on FY08 budget
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Yesterday, the New Jersey Transit board adopted a $1.6 billion operating and $1.3 billion capital budget for fiscal-year 2008.
The operating budget is being funded in part through a $300 million contribution from the state, as well as $464 million in federal and state reimbursements. The spending plan includes funds for additional rail service.
The capital budget includes $100 million to advance the Access to the Region’s Core project, $85 million for track and bridge improvements, $57 million for rail station improvements, $22 million to replace the Portal Bridge and $2 million to upgrade Newark Light Rail infrastructure.
