NEWS:NY/NJ to Receive Federal Funds

Tuesday, January 28, 2003
The Federal Transit Administration (FTA) will provide approximately $54.8 million for ferry-related projects in the New York City-Northern New Jersey metropolitan area to support the expansion of interstate ferry services due to the loss of Port Authority Trans-Hudson (PATH) train service between New Jersey and Lower Manhattan on September 11, 2001.

This funding for ferry-related projects supplements $100 million that was previously approved by FTA and distributed to the region for emergency transit capital improvements, and is a part of President Bush's $20 billion commitment to rebuild and revitalize Lower Manhattan.

"Today we are providing $54.8 million dollars in funding to support the much needed expansion of interstate ferry services," said Mineta. "As a result of September 11, transit service was severely impacted, disrupting the daily commute of thousands of people who lived, worked and visited one of the largest employment and financial centers in the world. The economic impact was enormous," stated FTA Administrator Jennifer L. Dorn. "This funding will expand and improve ferry service and go a long way towards restoring the quality of life for all residents and commuters."

The FTA will administer approximately $32.8

million in funding for the following projects:

• $19 million to New Jersey Transit toward the restoration of the historic Hoboken, New Jersey Intermodal Ferry Terminal. An interim pier currently serves over 24,000 daily ferry passengers;

• $2.4 million to New Jersey Department of Transportation for reconstructing the Sussex St. Pier, at Exchange Place in Jersey City, New Jersey. A nearby interim pier currently serves approximately 10,000 daily ferry passengers;

• $11.4 million to the New York City Department of Transportation and Economic Development Corporation toward the funding of a new West Midtown Intermodal Ferry Terminal at West 38th Street in Manhattan. The existing facility, which currently serves approximately 17,000 daily ferry passengers, will be replaced.

The Federal Highway Administration will administer approximately $22 million to assist in the financing of the following projects:

• $19 million for replacing the Port Imperial Intermodal Ferry Terminal in Weehawken (NJ), currently serving over 11,000 daily ferry passengers;

• $3 million for the South Amboy (NJ) Intermodal Ferry Terminal. A permanent terminal will replace a temporary facility erected shortly after 9/11 that currently serves approximately 600 daily ferry passengers.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Bulk Carrier Trends

Picking Up Panamaxes Like Pokemon

Alibra Shipping Research Weekly Market Report takes a look on current market scene of bulk carriers.   For a little while now, the story has been “Now’s a great time to buy bulk carriers,

Safe Bulkers Reports Q2 Loss, Expands Fleet

The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter.  It had a loss of 15 cents per share.   Net revenue for Q2 of 2016 decreased by 18% to $26.

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0554 sec (18 req/sec)