Friday, December 9, 2011

Port Authority to Spend $2B on New WTC in 2012

The Port Authority of New York and New Jersey plans to spend more than half of its $4-billion capital improvement budget for 2012 on the new World Trade Center next year - that's more than the agency will spend on construction at all of its airports, bridges, and other properties combined.
The budget sets aside $3.9 billion for capital improvements, but most of that money goes to the World Trade Center. The Port Authority's board is scheduled to vote on the 2012 budget Thursday afternoon.
The Port Authority recently raised bridge and tunnel tolls to help pay for construction at the World Trade Center and other sites. The AAA is going to court to fight back. It says the Port Authority is milking motorists for money  and should be using more of those funds for roadway projects.

Source: Associated Press Newswire
December 8, 2011

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