Gateway Development Corporation Names New Executives

On Feb 22, 2019

The Gateway Program Development Corporation (GDC) has named Frank Sacr interim executive director and hired Suma Mandel as chief administrative officer. Sacr succeeds John D. Porcari, who has served as interim executive director since July 2016.

Sacr currently serves as interim chief finance officer for GDC, responsible for all funding and financing aspects of the Gateway projects including advancing the procurement of the Hudson Tunnel Project to deliver it for the best value for money, including the combination of lowest cost and fastest schedule. Previously, he was with Societe Generale for 23 years, the last several of which he headed the bank’s infrastructure financing team for the Americas. In that role, Sacr was at the forefront of the development of the P3 market in North America.

“2019 is a pivotal year for the Gateway Program and we are grateful that Frank has accepted this challenge,” said GDC Chairman Jerry Zaro. “Frank has already been integral in developing smart and innovative financial plans for Gateway and in bringing the industry on board as partners as we develop and design our projects. His experiences working in investment banking, including work on the P3 structure for LaGuardia Airport Terminal B, are directly applicable to our project and we look forward to deploying his talents.”

Mandel joins GDC from Brooklyn Bridge Park Corporation, where she served as general counsel and vice president of strategic partnerships. There, she worked closely with the president, board, senior management, private partners and multiple city and state agencies throughout the transition from early stage project to a mature operating company managing a successful, financially self-sustaining public park.  At GDC she is expected to oversee the organization’s internal structure and day-to-day administration, as well as coordinate with project partners to ensure consistency and stability.

In recent months, GDC has achieved significant on time and on budget milestones in the early construction work on the Portal North Bridge, which has had environmental approvals for two years, submitted an updated Hudson Tunnel Project EIS to the Federal Railroad Administration and an updated financial plan for the project to the FTA, advanced work with the private sector in developing procurement strategies for the Hudson Tunnel Project, seen bi-state legislation to strengthen GDC pass the New Jersey Senate and Assembly Transportation Committees, and helped bolster the Build Gateway Now coalition of civic, business and transportation oriented organizations advocating for the Gateway Program.

To access more business news, visit NJB News Now.

Related Articles: