Christie Administration Enforces Budget Discipline and Protects New Jersey Taxpayer Dollars
- Today, Governor Chris Christie accepted the recommendation of NJ Transit Executive Director Jim Weinstein to continue the orderly and expeditious shutdown of the ARC Project. Despite intense negotiations with federal and state participants, no agreement was reached on terms that would assure New Jersey's taxpayers would not pay more than $2.7 billion for a completed Trans Hudson Express ARC project.
Federal cost estimates range from $9.8 billion to $12.7 billion. In addition this range does not include $775 million that New Jersey would be required to spend to build the Portal Bridge South, an integral part the ARC project.
On October 8, 2010, Governor agreed to an additional two week review of the ARC project at the request of US DOT Secretary Ray LaHood.
A memorandum from the ARC Project Executive Committee
is attached to this release.
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