- Better Roads - http://www.betterroads.com -
$3.54 billion capital transportation program proposed for New Jersey DOT, NJ Transit
Posted By Tina Grady Barbaccia On May 27, 2010 @ 7:38 am In Economics,News & Analysis | No Comments
The New Jersey Department of Transportation (NJDOT) announced a proposed Transportation capital program for NJDOT and NJ TRANSIT in the amount of $3.54 billion for the fiscal year starting July 1, 2010.
The FY 11 spending plan includes a $200 million state-funded local aid component and approaches last year’s $3.6 billion program despite an enormously challenging budget environment. The program reflects Governor Chris Christie’s firm belief that a safe and efficient transportation system drives the New Jersey economy.
“This transportation budget prioritizes safety, state-of-good-repair and congestion-relief projects statewide and funds a robust Local Aid program that takes pressure off of local budgets and property taxes,” Christie said in a press release. “We must continue to invest in our roads, bridges and transit services to ensure that New Jersey retains its competitive edge of a mobile workforce when the economy rebounds.”
“This spending plan targets limited resources to where they are needed most and ensures that all our roads, bridges and transit infrastructure remain safe and sound,” said NJDOT Commissioner Jim Simpson. “The program advances or launches major investments that will benefit commuters, enhance the quality of life for residents and strengthen the state’s business climate for years to come.”
The proposed program relies on $1.6 billion from the New Jersey Transportation Trust Fund Authority (TTFA), $1.72 billion from Federal sources and $220 million from other sources. The proposed program reflects intensive discussions with officials from the state’s three Metropolitan Planning Organizations (MPOs), legislative leaders and others.
NJDOT’s $2.19 billion proposed capital program includes $1 billion in revenue from the TTF and $1.12 billion from the federal government. NJ TRANSIT’s $1.35 billion proposed capital program includes $600 million from the TTF and $600 million from federal sources.
The TTF will support $200 million in Local Aid grants that help counties and municipalities advance transportation projects without imposing a burden on local taxpayers. The $200 million matches usual funding levels, excluding last-year’s one-time $50 million boost in support. Including federal dollars, local systems support in FY 11 will reach $413 million for NJDOT and $471 million overall.
NJ TRANSIT Highlights
An earlier draft of the transportation program conservatively estimated TTF support at $1.43 billion and a total transportation program of $3.23 billion. At its meeting earlier this month, the TTFA expressed its confidence that the fund will support the full $1.6 billion that has been provided in recent years. An additional $144 million in federal support further boosts the program total, enabling NJD
Article printed from Better Roads: http://www.betterroads.com
URL to article: http://www.betterroads.com/3-54-billion-transportation-capital-program-proposed-for-new-jersey-dot-nj-transit/
Copyright © 2009 Better Roads. All rights reserved.