Press Release Article


PORT AUTHORITY BOARD TAKES ACTION ON SEVERAL ITEMS

Date: Apr 24, 2008
Press Release Number: 39-2008

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

  • New lease agreements with American Stevedoring Inc., for a 10-year lease for the Red Hook Container Terminal, Piers 7 and 8 at the Brooklyn-Port Authority Marine Terminal and approximately 30 acres in Port Newark, beginning on May 1, 2008, and ending on April 30, 2018;


  • Amendments to the terms of the Master Dredging Agreement made on November 1, 1997, with the New York State Empire State Development Corporation to accommodate requests made by the State of New York that approximately $8.1 million in uncommitted funds be allocated to various economic development initiatives at the Brooklyn waterfront as well as rental arrearages of American Stevedoring that are owed to the Port Authority in connection with the leases at Port Authority marine terminal facilities;


  • $1.5 million for planning to assist in the development of a comprehensive delay reduction program for the Port Authority’s four commercial airports, consistent with recommendations of the Flight Delay Task Force;


  • $2.5 million for planning and design for roadway improvements to roads serving the North Area of Newark Liberty International Airport, including the realignment of Brewster Avenue and Port Street, which are main arteries providing access to the airport, Port Newark and Elizabeth-Port Authority Marine Terminal;


  • The Executive Director to award or accept assignment of individual construction trade contracts, not to exceed $10 million, in connection with the development of 1 World Trade Center, the Freedom Tower and the National September 11 Memorial and Museum projects;


  • A reaffirmation of authority previously delegated to the executive director that provides for the adjustment of various airport user fees and charges, on an as-needed basis, at John F. Kennedy and Newark Liberty International airports, LaGuardia Airport and Teterboro Airport, and expands the authority to include all airports owned or operated by the Port Authority;


  • Supplemental agreements with FAPS, Inc., at Port Newark for the extension of leases for approximately 198 acres including open area, warehouse space and office space for a total minimum rent of $98.3 million;


  • An amended and restated lease agreement with McLester Realty, LLC, a joint venture of ASA Apple, Inc. and 2-64 Realty, LLC for 24 years for the leasing of approximately 8.1 acres of open space at the Elizabeth-Port Authority Marine Terminal for a total minimum rent of $17.3 million; and


  • The Committee on Finance to purchase insurance under the existing Owners’ Controlled Insurance Program to include coverage for the Vehicle Security Center, Tour Bus Parking Facility and West Bathtub Vehicle Access project at the World Trade Center site.


CONTACT:
Port Authority of New York and New Jersey
Candace McAdams, 212 435-7777, cmcadams@panynj.gov
Steve Coleman, 212 435-7777, scoleman@panynj.gov

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; the Port Authority-Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.

The Port Authority is financially self-supporting and receives no tax revenue from either state.

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