Press Release Article


DISTINGUISHED PUBLIC AND PRIVATE SECTOR EXPERTS TO BEGIN CRITICAL DIALOGUE ON WAYS TO EXPAND TRANS-HUDSON TRANSPORTATION CAPACITY

Date: May 05, 2015
Press Release Number: 66-2015

Daylong May 7 Port Authority-Hosted Event Will Be Webcast for Public Viewing

The region’s major transportation agencies, along with government, business and community leaders, will join together on Thursday, May 7, to kick off a focused and urgent dialogue on the region’s pressing need to expand trans-Hudson capacity and replace aging infrastructure.

The summit, hosted by the Port Authority and its regional partners – Amtrak, the Metropolitan Transportation Authority, NJ Transit and the Regional Plan Association – will be webcast at www.transhudsonsummit.com from 8:30 a.m. through 4:30 p.m. In addition, interested parties can submit questions or comments about the topic to the website for consideration during the discussions.

Those participating in the event include Peter Rogoff, the Undersecretary of Transportation for the U.S. Department of Transportation, Port Authority Chairman John Degnan, Port Authority Vice Chairman Scott Rechler, Regional Plan Association Chairman Elliot Sander, MTA Chairman Thomas Prendergast and Amtrak Chairman Anthony Coscia In addition, Port Authority Executive Director Pat Foye, NJ Transit Executive Director Veronique Hakim and New York City Department of Transportation Commissioner Polly Trottenberg will participate in the discussions. From the private sector, Chris Ireland, Director of Infrastructure Investments for the Ontario Teachers’ Pension System and Sam Schwartz, President, CEO and Founder of Sam Schwartz Engineering are two of several panelists scheduled to attend.

The Port Authority organized the function to address a wide range of ongoing transit initiatives, such as bolstering bus and tunnel capacity, and replacing the Port Authority Bus Terminal. The discussions also will include dialogue on innovative infrastructure funding sources, financing techniques, project delivery mechanisms including public-private partnerships, tax-increment financing, along with ways to improve the current regulatory provisions to reduce cost and fast-track infrastructure projects.

Trans-Hudson travel is expected to increase significantly in the next 25 years, presenting considerable congestion challenges for access roads, bridges and tunnels and rail links between New York and New Jersey. Options for crossing the Hudson River have not kept pace with population growth. The last infrastructure project that added a new vehicular lane or rail track across the Hudson was construction of the lower deck on the George Washington Bridge more than 50 years ago.

CONTACT:
Port Authority of New York and New Jersey
212-435-7777

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.


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