The FTA's rating delays the Gateway Hudson River tunnel project's eligibility for federal funding.Photo – amtrak.com
The Federal Transit Administration (FTA) earlier this week announced it has rated the Hudson River rail tunnel rehabilitation project a "medium-low" priority, a designation that serves to delay the project's eligibility for federal funding under the Capital Investment Grant program.
Last year, the Port Authority of New York and New Jersey (PANYNJ), Amtrak and New Jersey Transit submitted a revised application for funding, including a proposal to lower the project's cost by $1.4 billion and decrease its reliance on federal funds to less than 50 percent. The revised application was part of an effort to increase the project's FTA rating above "medium low." The tunnel project's cost is estimated to be about $12 billion.
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