The Port Authority of New York and New Jersey recently advanced its biennial re-assessment of its 2017-2026 Capital Plan and will present the plan to the board of commissioners today.
The plan reflects the agency’s transportation mission and its commitment to rebuilding the region’s aging infrastructure. A formal reassessment of the plan is required every two years by the commissioners.
“Both the original 2017-2026 Capital Plan and the modifications we are recommending today provide for extraordinary and unprecedented levels of investment needed to replace and upgrade our facilities to meet the standards of 21st-century infrastructure,” Port Authority Executive Director Rick Cotton said. “We are committed to rapid progress on all our critical capital projects to deliver transportation infrastructure that the region deserves. This Capital Plan reassessment is part of that commitment.”
The plan includes a $4.8 billion increase to fund current and new projects such as the redevelopment of John F. Kennedy International Airport, the redevelopment of Newark Liberty Terminal One and providing electric charging infrastructure for electric vehicles.
Improvements completed during the first two and a half years of the plan include the completion of two bridges and opening a new 18-gate concourse as part of the complete rebuilding of LaGuardia Airport.