Press Release Article


PORT AUTHORITY BOARD TAKES ACTION ON SEVERAL ITEMS

Date: May 22, 2008
Press Release Number: 51-2008

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

  • $5 million for planning work on an operations command center and radio communications system for the World Trade Center site;

  • 1 World Trade Center LLC, through its construction manager, Tishman Construction Corporation, to enter into a construction trade contract for heating, ventilation and air conditioning for One World Trade Center, the Freedom Tower, at a cost of $72.3 million;

  • 1 World Trade Center LLC, through its construction manager, Tishman Construction Corporation, to enter into a construction trade contract for plumbing work for One World Trade Center, the Freedom Tower, at a cost of $90.6 million;

  • An additional $5 million in planning for the retail components of the World Trade Center site, specifically to provide additional compensation to World Trade Center Properties LLC (Silverstein Properties) for professional, architectural and engineering services on behalf of World Trade Center Retail LLC to complete the final design of the retail to be located in the site’s East Bathtub area;

  • $7.6 million in planning for the replacement of the electrical duct banks and associated power cables within the PATH tunnels, which provide electrical power distribution for the PATH rail system;

  • A 10-year lease with the U.S. Postal Service for its continued use of Building 250 at John F. Kennedy International Airport as an international postal facility;

  • An approximate 12-year lease with Metro Foods, Inc., for a 35,000-square-foot building and associated land located at 1628 Bathgate Avenue in the Bathgate Industrial Park for the operation of a warehouse and distribution center for various food products;

  • Agreements for the Port Authority to assume an interim ownership role of the existing Ramada Hotel at John F. Kennedy International Airport, including a hotel management agreement with Westminster JFK Management LLC, an affiliate of Westmont Hospitality Group to operate the hotel for a two-year term and a franchise agreement with Ramada Franchise Systems Inc., or another comparable hotel franchise, for the right to use its hotel name and other services;

  • A 20-year lease with GAZ Realty, Inc., for 1.345 acres of land at Newark Liberty International Airport for the construction, operation, management and financing of a multi-fuel vehicle service station. The airport currently has no such facility on its property;

  • The purchase of property damage and loss of revenue insurance - based on approval from the Committee on Finance - for all owned and leased properties of the Port Authority and its wholly owned entities;
  • An amendment to a Memorandum of Understanding with the New Jersey Meadowlands Commission to enable the Port Authority to provide reimbursement to the commission for the cost of improvements at River Barge Park in Carlstadt, N.J. as part of the Hudson-Raritan Estuary Resources Program;

  • Approval of the final terms of an agreement with the Middlesex County Improvement Authority - based on approval from the Board’s Committee on Operations - to fund or reimburse a portion of the cost to acquire an interest in a 69-acre property of woodlands and wetlands in South Plainfield, N.J.;

  • A five-year lease agreement with Staten Island Terminal LLC, where the Port Authority would lease approximately 3,838 square feet of lands largely under water in Staten Island adjacent to the Bayonne Bridge for use as part of a proposed cement import terminal on Staten Island;

  • An amendment to an agreement with the City of Elizabeth in connection with the city’s Community Development Fund to provide for the adjustment of annual payments by the Port Authority in return for an advancement of approximately $4 million to help ensure the City is able to meet its debt service obligations in connection with previously authorized infrastructure projects under the existing agreement;

  • An amendment to a prior Board action to provide for an agreement with the New Jersey Department of Transportation and the New Jersey Turnpike Authority that would expand the scope of the New Jersey roadways over which the Port Authority will have access and control in perpetuity for emergency response purposes;

  • A $20 million increase to an existing agreement with the Downtown Design Partnership, a joint venture of DMJM+Harris, Inc., and STV Inc., for additional professional architectural and engineering services in connection with ongoing redevelopment efforts at the World Trade Center site;

  • Agreements with UTEX Holdings, LLC and its subsidiary TDM America, LLC to settle all potential claims of patent infringement against the Port Authority for the treatment and processing of dredged material at the Port Authority’s port facilities, including an exclusivity agreement for UTEX to treat, process and beneficially use future dredged material for a 15-year term at a guaranteed financially advantageous price to the Port Authority; and

  • Through its Audit Committee, the continued retention of Deloitte & Touche as independent auditors for the year ending December 31, 2008.



CONTACT:
Port Authority of New York and New Jersey
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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