Govs. Christie, Cuomo commit to their financial share of Gateway Tunnel project – The governors of New York and New Jersey on Wednesday pledged to fund 100 percent of their states’ share of the new Gateway Hudson Tunnel.
The tunnel is an essential part of the Northeast Corridor that connects New York and New Jersey and is the nation’s most critical major infrastructure project, according to a joint press release issued by the governors’ offices.
New York state will commit $1.75 billion to the project; New Jersey (through New Jersey Transit) will commit $1.9 billion; and the Port Authority of New York and New Jersey will fund $1.9 billion for a combined total of $5.55 billion, the governors announced.
The $12.7 billion Gateway Hudson Tunnel project consists of three elements: a new two-track tunnel, the Hudson Yards concrete casing and the rehabilitation of Amtrak’s existing North River Tunnel.
Together, the three funding commitments will cover 100 percent of the local share for the most urgent, time sensitive elements of the project: the construction of a new tunnel and the Hudson Yards concrete casing, which total $11.1 billion of the $12.7 billion construction cost.
The commitments mark a “pivotal milestone” in the Gateway Tunnel project’s construction, and builds on the start of construction earlier this year on the Portal North Bridge project, said New Jersey Gov. Chris Christie.