Vol. 1, No. 2, December 2006
|Port Authority Board Approves $5.7 Billion
Budget for 2007.
Capital Investments and Security Spending are Up; Administrative Costs are Down.
|At its December 14 meeting, the Port Authority Board
of Commissioners approved a $5.7
billion budget for 2007 that increases the agency's investment in
major capital projects and security initiatives, while holding the line on
operating expenses and decreasing administrative costs.
Capital funding will increase by $625 million and will focus on World Trade Center redevelopment, improvements to PATH's car fleet, advancement of the Trans-Hudson Tunnel project, upgrading of Terminal B at Newark Liberty International Airport, and construction of a new passenger terminal at John F. Kennedy International Airport.
Transparency, Accountability Brought to Budget Process
|Port Authority Moves Ahead to Rebuild World Trade Center Site.||Earlier this year, the Port Authority was asked to
take responsibility for reaching a comprehensive agreement that would
jump-start the redevelopment
efforts at The World Trade Center Site.
The historic agreements we negotiated set the stage for faster progress and greater accountability.
Work Under Way
The first steel columns for the Freedom Tower were raised on December 19. Construction of the East bathtub that will serve as the foundation for Towers 2, 3, and 4, and the Transportation Hub began in December.
By the end of 2007, more than 600 construction workers will be on site.
Takes on Role of Construction Manager at WTC Memorial
This is a very personal responsibility for us and we are committed to a fitting tribute that opens on time in 2009.
The first major construction contract to build the Memorial's foundations has been awarded. By the end of next year, steel for the memorial's base will be rising.
|Strategic Plan Provides 10-year Blueprint for Critical Transportation Investments.||Along with the 30 percent increase in the capital
budget, the Port Authority Board of Commissioners also approved its 2007-2016
Capital Plan. The plan will refocus the agency's efforts on its core
mission of driving regional growth through landmark transportation
The Port Authority of New York and New Jersey recently distributed a summary of its Strategic Plan, Transportation for Regional Prosperity, to key decision makers throughout the region.
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