Three sources familiar with the $8.7 billion tunnel under the Hudson river from NJ, say, barring an unexpected, last-minute change of heart from Governor Chris Christie, the ARC transit tunnel under the Hudson river is dead. The sources say Christie will likely announce this week that he’s restructuring NJ’s portion of the money to go to roads. The FTA and the Port Authority will recoup their $3 billion each, though the Port’s money will likely go into other regional projects.
The writing had been on the wall for this project since September 13 when New Jersey Gov. Chris Christie suspended work on it to “review costs.” The state’s leaders feared that the $8.7-billion price tag was too conservative and that the state would be forced to pony up money it didn’t have. At one point, Christie claimed that the project could cost $5 billion more than expected.
This is a summary. to read the entire article, please visit the original posting here: