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 Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Kirby Corp. Announces Record 3Q Results

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability.

Danny Broad Appointed to ARENA Board

The Chair, Board members and staff of the Australian Renewable Energy Agency (ARENA) are delighted to advise that Danny Broad has been appointed by the Australian Government to the Board of ARENA.

Bulk Carrier Trends

Bulker Arrives to US on Her Maiden Voyage

The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0931 sec (11 req/sec)