$3.8B Grant Agreement Authorized for Gateway Tunnel Project

On Aug 28, 2024

The Gateway Development Commission (GDC) Board has authorized GDC to enter into a final agreement in September with the Federal Railroad Administration (FRA) for a $3.8 billion Federal-State Partnership (FSP) grant to fund the Hudson Tunnel Project (HTP).

GDC applied for an FSP Grant in March 2023 and all $3.8 billion requested was committed in November 2023. At the Hudson Yards Concrete Casing – Section 3 (HYCC-3) groundbreaking in November, Senate Majority Leader Chuck Schumer announced that the grant would revise the HTP’s funding structure from a 50-50 to a 70-30 split between the federal government and the states, representing the largest ever federal commitment to a rail mass transit project.

In a joint statement, Alicia Glen, New York GDC Commissioner and Co-Chair, Balpreet Grewal-Virk, New Jersey GDC Commissioner and Co-Chair, and Tony Coscia, GDC Amtrak Commissioner and Vice Chair, said, “The FSP grant agreement will cap off the massive effort to get the Hudson Tunnel Project all of the funding it needs to be completed. Taken together with the major construction we’re seeing ramp up, GDC is earning its stripes as an agency with the capacity and drive to build the most urgent infrastructure project in the nation.”

GDC CEO Kris Kolluri said, “On my first day as CEO, I was tasked with identifying and securing all of the sources of federal funding available to guarantee the HTP’s future. With tremendous support from the Biden administration, Senators Schumer and Booker, the New Jersey and New York Congressional delegations, and Governors Murphy and Hochul, that task will be complete with final execution of the FSP grant.”

To access more business news, visit NJB News Now.

Related Articles: