Vol. 4, No. 3, March 31, 2009
Ferry Terminal Opens
A new state-of-the-art ferry terminal opened March 18 at Battery Park City along the Hudson River in Manhattan. The new terminal replaced an existing ferry terminal at Battery Park City that first opened in 1990. The Port Authority will own the terminal, and BillyBey Ferry Company will operate and maintain it. Read more.
Port of NY & NJ Stats
The effects of the economic downturn were felt in 2008 at the region’s port terminals. After 15 years of steady growth in containerized cargo, the Port of New York and New Jersey recorded flat growth in the container market during 2008. Click here for a full report.
Public Meetings
The next monthly Board of Comissioners meeting will be held Thurday, April 30. The next Commissioners World Trade Center meeting will be held Thursday, April 16. Visit panynj.info to view minutes and board actions from previous board meetings.
Did You Know?
The PATH rail transit system handled 75 million passenger trips in 2008, up 4.7 percent from 2007. With more than 252,000 passenger trips per day, the PATH system is now operating at its pre-2001 passenger level.

Doing Business with the Port Authority  For PA Procurement Information and Opportunities, click here.

One World Trade Center Gets First Tenant;
The China Center Will Occupy Nearly 200K Square Feet
Representatives of The Port Authority of New York and New Jersey and Vantone Industrial Co., Ltd., signed a lease on March 26 that will create the China Center, a unique 190,810-square-foot business and cultural facility, to be located on the 64th through 69th floors of One World Trade Center when the building opens in late 2013.

As currently envisioned, the China Center at One World Trade Center will represent the elite of China’s vibrant business and cultural communities and serve as a dynamic hub for Chinese firms developing United States operations, as well as for U.S. companies that wish to conduct business in China or expand ongoing operations. Visit WTCProgress.com for details and renderings of the China Center.
Port Authority Board Chairman Anthony Coscia (left) and Vantone Industrial Co. Chairman Lun Feng (right) shake hands after signing the first lease agreement for One World Trade Center. They were joined by Executive Director Chris Ward (center).

Contract for Structural Steel at World Trade Center
Transportation Hub Awarded by Port Authority Board
At its March 26 meeting, the Port Authority Board of Commissioners awarded a contract for more than 22,000 tons of steel for the World Trade Center Transportation Hub - the largest contract awarded to date for the major transportation facility.

The structural steel award is always one of the most significant milestones in any large construction project, but this award takes on even greater significance to the World Trade Center rebuilding effort as a whole because of how interconnected the Transportation Hub is to the entire site, particularly the 9/11 Memorial.
A rendering of the WTC Transportation Hub

Port Authority Sells $100 Million in Bonds
On March 10, the Port Authority successfully completed the sale of its Consolidated Bonds, 154th Series, in the aggregate principal amount of $100 million. The 154th Series bonds were awarded on the basis of the lowest true interest cost of the bids received.

The Port Authority’s ability to sell bonds competitively in the current economic climate demonstrates both greater activity in the credit markets for municipal bonds as well as the agency’s continued financial health.

The proceeds of the 154th Series bonds will be allocated, as appropriate, to capital projects in connection with facilities of the Port Authority and may also be used for refunding obligations of the agency.