Gateway Program Development Corp. has approved an updated financial plan for Portal North Bridge that reins in a request for federal funding from $841 million to $811 million.
The 2.3-mile Portal North Bridge, which swings open to allow boats to pass through on the Hackensack River, occasionally has gotten stuck, halting all trains on the Northeast Corridor. The work aims to restore the bridge to dependable working order.
“We look forward to an expedited [federal] review of the Portal North Bridge Project,” GDC Interim Executive Director John D. Porcari said. “One hundred percent of the local commitment is being financed locally by New Jersey [Economic Development Authority]. The other local funding sources are transportation trust fund sources.
“The early work on construction that you see out there today has led to a reduced estimated cost,” Porcari explained.
A transmission pole having been installed and decking for an access road is almost completed. A request for proposals on a financial adviser has been issued, and an industry information session has been scheduled for July 31 at the World Trade Center in New York.