Port Authority’s $2B could go to WTC redevelopment

The Port Authority of New York and New Jersey was given $2 billion from Governor George Pataki in 2006 to fund a transportation project, but the money has gone uncommitted for so long that now it might be taken by the World Trade Center redevelopment project instead, according to the Observer. The Port Authority has more than $2 billion in cost overruns at the World Trade Center site. Giving the funds to the WTC redevelopment would betray its original intent for transportation, the Observer noted, but the Port Authority’s 10-year, $29 billion capital plan would need to be expanded if the funds are put toward a new project, like Moynihan Station. Transportation advocates were hoping the money would be given to the MTA, which currently has no funds for its upcoming five-year capital plan, which is likely to cost about $30 billion.