""We are talking to the city about how they might play a part in their funding," Byford, Amtrak's point person for the renovation, told members of the business-aligned Citizens Budget Commission at a breakfast gathering. "There's a lot of detail that still needs to be worked out in how you do pay for what will be an expensive proposition," the former New York City Transit president said, adding that he hopes New York, New Jersey and the MTA also help pay."
""There's a lot of detail that still needs to be worked out in how you do pay for what will be an expensive proposition," the former New York City Transit president said, adding that he hopes New York, New Jersey and the MTA also help pay. "No one thinks that the existing station is acceptable. ... And it's in everyone's interest that we have a truly world-class station that functions on the most important corridor, the northeast corridor, in the U.S.""
Amtrak is seeking financial contributions from New York City for a multi-billion-dollar Penn Station renovation. Project lead Andy Byford said discussions are underway about city participation and that he hopes New York, New Jersey and the MTA will also contribute. The Trump administration took control of the project from New York State with a reported $7-billion figure, but federal plans and the financing structure remain unclear. Amtrak initially raised the possibility of user fees and later suggested ruling them out. Three potential master developers have been named while selection criteria and the final cost have not been publicly released. The White House and the president will have final authority over the effort.
Read at Streetsblog
Unable to calculate read time
Collection
[
|
...
]