• DATVF.ATLPHL
    1.751
    -0.063
    -3.5%
  • DATVF.CHIATL
    2.041
    0.007
    0.3%
  • DATVF.DALLAX
    0.928
    0.007
    0.8%
  • DATVF.LAXDAL
    1.459
    -0.043
    -2.9%
  • DATVF.SEALAX
    0.984
    0.022
    2.3%
  • DATVF.PHLCHI
    1.110
    0.019
    1.7%
  • DATVF.LAXSEA
    2.155
    0.009
    0.4%
  • DATVF.VEU
    1.634
    -0.013
    -0.8%
  • DATVF.VNU
    1.466
    -0.005
    -0.3%
  • DATVF.VSU
    1.194
    -0.017
    -1.4%
  • DATVF.VWU
    1.569
    0.015
    1%
  • ITVI.USA
    9,394.010
    -295.340
    -3%
  • OTRI.USA
    7.540
    -0.110
    -1.4%
  • OTVI.USA
    9,375.560
    -302.450
    -3.1%
  • TLT.USA
    2.730
    0.000
    0%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
  • DATVF.ATLPHL
    1.751
    -0.063
    -3.5%
  • DATVF.CHIATL
    2.041
    0.007
    0.3%
  • DATVF.DALLAX
    0.928
    0.007
    0.8%
  • DATVF.LAXDAL
    1.459
    -0.043
    -2.9%
  • DATVF.SEALAX
    0.984
    0.022
    2.3%
  • DATVF.PHLCHI
    1.110
    0.019
    1.7%
  • DATVF.LAXSEA
    2.155
    0.009
    0.4%
  • DATVF.VEU
    1.634
    -0.013
    -0.8%
  • DATVF.VNU
    1.466
    -0.005
    -0.3%
  • DATVF.VSU
    1.194
    -0.017
    -1.4%
  • DATVF.VWU
    1.569
    0.015
    1%
  • ITVI.USA
    9,394.010
    -295.340
    -3%
  • OTRI.USA
    7.540
    -0.110
    -1.4%
  • OTVI.USA
    9,375.560
    -302.450
    -3.1%
  • TLT.USA
    2.730
    0.000
    0%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
American ShipperIntermodal

PANYNJ proposes $3.2b budget for 2018

The Port Authority of New York and New Jersey (PANYNJ) is projecting a surplus of revenues after operating expenses and debt service of $1.5 billion for next year, which would be up $12 million (0.8 percent) from 2017 levels.

   The Port Authority of New York and New Jersey (PANYNJ) is proposing a $3.2 billion operating budget for ongoing operations, maintenance and security at all agency facilities in 2018.
   The proposed amount represents an increase of $61 million (1.9 percent) from the 2017 budget, the port authority said Nov. 8.
   “The port authority projects these expenses will be more than offset by increased revenues of $127 million or 2.5 percent versus the 2017 budget,” PANYNJ explained in a statement. “This revenue increase is driven primarily from higher revenues from aviation facilities, as well as higher rental income at the World Trade Center and at port facilities.”
   The port authority projects a surplus of revenues after operating expenses and debt service of $1.5 billion, which would be a $12 million (0.8 percent) increase over the 2017 budget.
   The agency has also announced a proposed 2018 $3.4 billion capital budget that includes significant state-of-good-repair work at its tunnels, bridges, airports and Port Authority Trans-Hudson (PATH) rapid transit system, while investing in projects to replace aging facilities with modern, state-of-the-art infrastructure and provide for future growth.
   The 2018 capital budget aligns with the 10-year, 2017-2026 Capital Plan adopted by the Board of Commissioners in February and invests in critical regional transportation projects such as: the redevelopment of LaGuardia and Newark Liberty International airports; advancement of the LaGuardia AirTrain and John F. Kennedy International Airport Vision planning; and extension of the PATH system to Newark Liberty rail link station.
   The proposed 2018 capital budget also includes spending for the completion of the Goethals Bridge replacement and Bayonne Bridge projects; the rehabilitation of the George Washington Bridge; implementation of Positive Train Control (PTC) system across PATH by the end of 2018; the construction of the Intermodal Container Transfer Facility at Greenville Yards at the Port Jersey Marine Terminal; and support of the planning phase of the Gateway Passenger Rail Tunnel projects.
   Highlights of the proposed 2018 operating budget include:
     • $726 million to ensure safety and security at Port Authority facilities, a $20 million increase over the 2017 budgeted amount, and the largest single increase in the proposed 2018 budget. Included are the addition of new counterterrorism police posts at the airports, the addition of new PAPD supervisory officer positions, and the commencement of two PAPD police classes in 2018, totaling an estimated 270 new police officers;
     • $1.6 billion to operate and maintain the agency’s infrastructure operations, a $17 million increase over the 2017 budget;
     • $392 million for ongoing management services, a decrease of $9 million from 2017, as an offset to increases elsewhere;
     • And $396 million for payments to local municipalities and other landlords in return for the use of facilities or property, a $12 million increase over 2017, and resulting primarily from the increased occupancy and construction completion at the World Trade Center leading to higher payments-in-lieu-of-tax to New York City.
   Highlights of the proposed 2018 capital budget include:
      • $1.1 billion for regional airport redevelopment, including at LaGuardia Airport, where construction continues on the entirely new, redeveloped airport, and at Newark Liberty International Airport, where investment continues for the redevelopment of Terminal A. Also, at JFK International Airport, planning continues for the redevelopment of the airport, which would include new and interconnected terminals, relocated state-of-the-art cargo facilities and a new roadway configuration for reduced congestion;
      • $55 million for further planning and design activities for a new Port Authority Bus Terminal.  Procurement is currently under way to select an environmental and architectural and engineering consultant so that environmental review activities can begin in 2018;
      • $432 million for upgrades to Trans-Hudson crossings, including furthering Bayonne Bridge National Clearance Program construction; continued construction on the Goethals Bridge replacement; and the commencement of components of the George Washington Bridge suspender rope replacement program;
      • And $55 million for the ExpressRail intermodal container transfer facilities at Port Jersey.
   Budget materials are available for viewing on the Port Authority’s website. The proposed budgets will be up for action at the Board of Commissioners’ Dec. 7 meeting. Written comments can be submitted through Dec. 5 at publiccomments@panynj.gov.

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