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Port Authority Agrees to Fund a New Bus Terminal, Somehow

The bi-state agency has agreed to fund the construction of a new bus terminal, despite a lack of funds

For practically the first time ever, the Port Authority is making moves. In a board meeting yesterday, the agency announced that they were reneging on leasing 40,000 square feet in the planned Moynihan Station project and approving the $4 billion revamp of LaGuardia Airport. The agency also voted to approve funding an overhaul of the ninth treacherous circle of Midtown hell, the Port Authority Bus Terminal, whatever the cost, the Times reports.

Previous estimates pegged the overhaul at about $10 billion, but Port Authority Executive Director Patrick Foye made a major faux pas on Thursday when quoting estimates from an earlier private conversation that pegged the cost at $15 billion. He was shut down by the agency's chairman John J. Degnan, and told to "keep it to [himself.]" (The bi-state agency's infighting plays no small part in its constant delays.) While Port Authority voted to fund the new terminal, exactly where the funds from the cash-strapped agency will come from remain uncertain.

The agency is now committed to financing some 400 projects, of which funding a new bus terminal is one of the most important. Degnan announced in the meeting that the decision to fund a new bus terminal is binding.

Port Authority launched a design competition to reimagine the terminal on March 11, with plans to announce a winner in September.