The Federal Transit Administration (FTA) has increased the rating for the Gateway Tunnel Project to medium-high, which moves the $12.3 billion project closer to a full funding agreement and the start of construction.
The tunnel project’s rating being raised to medium-high, means that the Hudson River Tunnels are eligible to move forward in the Capital Investment Grants (CIG) program process to access federal funding for the project.
The FTA had previously rated the tunnel project medium-low, meaning it did not qualify for federal grants.
The funding breakdown of the project includes $1.4 billion from Amtrak and $6 billion from New Jersey and New York through long-term railroad infrastructure loans. Thus, federal funding could be as much as $5.6 billion.
“The day many commuters never thought they’d ever see is finally coming. We are closer than ever to securing a fairly and fully funded Gateway Program and beginning the work of delivering the safe and modern infrastructure our people and economy deserve,” said Gov Phil Murphy. “We are extraordinarily grateful to President Biden, Secretary Buttigieg, and our Congressional delegation led by Senators Menendez and Booker for making Gateway a priority so we can make it a reality.”
“We’ll continue to work hard with our Federal partners to meet the requirements of the grant so we can get to a Full Funding Grant Agreement rapidly, and move to full construction that finally stops the delays that are costing our commuters and travelers thousands of hours in lost time and the nation billions in productivity,” added the Gateway Development Commission.
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