Press Release Article


Date: Apr 30, 2009
Press Release Number: 50-2009

At its monthly meeting this morning, the Port Authority Board of Commissioners authorized:

  • An update on significant progress on the World Trade Center projects for which the Port Authority is responsible, including the National September 11 Memorial and Museum, One World Trade Center and the Transportation Hub. The agency said it remained confident in meeting the schedules and budgets it released for these projects in its October assessment of World Trade Center rebuilding and that it is developing contingency plans around the negotiations with Silverstein properties to ensure the public part of the rebuilding efforts continues to move forward as planned.

  • Planning for a series of improvements to McLester Street and North Avenue East at the Elizabeth-Port Authority Marine Terminal to enhance the flow of traffic and accommodate the expected growth of port activity.

  • A supplement agreement to FAPS' existing lease at the New Jersey Marine Terminals that would provide for an exchange of property to comply with U.S. Coast Guard requirements.

  • A Memorandum of Agreement, through its Committee on Operations, with the City of Jersey City, NJ to partially fund the acquisition of an approximately 32.5-acre property that will be redeveloped for public recreation and waterfront access.

  • Through its Committee on Finance, the issuance and sale of up to $750 million of Consolidated Bonds and Notes, on a negotiated basis, through underwriter Citigroup Markets Inc. The proceeds will be used exclusively for capital projects at the World Trade Center site.

Port Authority of New York and New Jersey
Candace McAdams, 212 435-7777

The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia, Stewart International and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Port Authority Auto Marine Terminal; the Brooklyn Piers/Red Hook Container Terminal; the Greenville Yard-Port Authority Marine Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan and is a partner in the Access to the Region's Core tunnel project.

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