As expected the Port Authority’s Board approved its massive $32.2 billion 10-year Capital Plan on Thursday—it’s the largest sum the agency has approved for a capital plan yet. Just some of the projects that will get a boost from this capital plan, which covers the years 2017-2016, include a new bus terminal, and upgrades to all of the city’s airports. Here’s a proper breakdown:
- $11.6 billion will be allocated towards the three major airports that serve NYC—JFK Airport, Newark Airport, and LaGuardia. The latter is getting $4 billion for a revamped Terminal B. That transformation is currently underway and has already caused some serious traffic headaches. In January, Governor Andrew Cuomo announced a $10 billion overhaul of JFK Aiport, and plans for a new terminal at Newark have been in the works for a while now. Overall funds also include a plan to extend the PATH train from the Newark Penn Station to the Newark Liberty International Airport Air Link Station.
- The Port Authority Bus Terminal is getting a funding infusion of $3.5 billion, though many say this is not enough, and officials in New York and New Jersey are still quarreling over the exact location and funding burdens for this project. A design competition last year revealed cost estimates ranging between $3 billion and $15 billion. For now, the Port Authority is hiring environmental and technical consultants as part of the ongoing planning process.
- $10 billion have been allocated towards several trans-Hudson tunnels and bridges. This includes (aside from the above-mentioned bus terminal) a $2 billion rehabilitation of the George Washington Bridge, and billions more spent on replacing the Bayonne Bridge and the Goethals Bridge.
- The Trans-Hudson rail tunnel will also move forward courtesy a $2.7 billion allocation.
The approval followed a month-long public comment process where hundreds of people submitted written or oral testimony.
“This region needs state-of-the-art airports, new mass transit infrastructure and bridges designed to handle 21st Century traffic levels if we are to meet growth projections,” Port Authority executive director Pat Foye said in a statement. “This 10-year plan provides a record level of investment in all of these areas that will meet and support the region’s growth and serve as a major job creator for the next decade.”