Corporation to oversee N.Y. Hudson tunnel project
The project to develop a long-overdue new rail tunnel from New Jersey under the Hudson River to New York City took a major step forward on November 11 with the creation of a corporation within the Port Authority of New York and New Jersey to oversee the scheme.
The Gateway Development Corporation (GDC) will coordinate the project and will be controlled by a four-member board with representation from the states of New York, New Jersey, Amtrak and the Federal Department of Transportation. As part of the agreement to found GDC, the federal government and Amtrak have committed to funding half of the estimated $US 20bn project, with the two states funding the other half.
Read more from International Railway Journal.