US$ 7 billion budget approved for New York
13 December 2011
The US Port of New York and New Jersey (PNYNJ) has approved a US$ 7 billion preliminary budget for 2012 that includes US$ 2 billion for the redevelopment of the World Trade Center site and US$ 357 million for enhancements to the access infrastructure of the Lincoln Tunnel under the Hudson River.
PNYNJ, a bi-state authority which runs most of the regional transportation infrastructure in New York and New Jersey, said the budget was flat year-on-year compared to the 2011 financial plan. It envisages spending a total of US$ 3.6 billion on capital projects including improvements to the road, rail and air infrastructure in New York and New Jersey.
Other large projects include US$ 134 million for airport runway and taxiway reconstruction in the region, while US$ 34 million has been budgeted for redeveloping the George Washington Bridge Bus Station in Manhattan, and US$ 26 million will be spent on modernising the Goethals Bridge linking New Jersey to Staten Island.