Plans for the $16.1-billion Hudson River rail tunnel project between New Jersey and New York City passed a key milestone Sept. 13 as the board of the Gateway Development Commission voted to take on the project sponsor role, enabling it to seek and receive billions of dollars in federal funding.
The vote enables the commission to take over responsibility for the project from the Port Authority of New York and New Jersey. As project sponsor, the commission can apply for federal loans. Kris Kolluri, chief executive of the commission, said in a statement that the commission is pursuing billions of dollars from the U.S. Dept. of Transportation’s Build America Bureau through its Railroad Rehabilitation & Improvement Financing loan program. The commission board also voted at its meeting to expend as much as $750,000 to move forward the RRIF loan process.