NJ Transit's board approved sending a $19.39 million annual payment to the Gateway Development Commission.
, which is overseeing design and construction of two new Hudson River rail tunnels between New Jersey and New York.
The board unanimously approved the funding agreement Monday night that would send funding from the New Jersey Turnpike Authority to the GDC under an agreement approved by that authority last December. Technically, NJ Transit is conveying the $19.39 million in Turnpike funds to the Gateway Development Commission from the state Department of the Treasury.
“That is an annual amount paid in monthly installments,” said Diane Gutierrez-Scaccetti, board chairwoman and transportation commissioner. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
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