FOR IMMEDIATE RELEASE: February 16, 2010
SCHUMER ANNOUNCES FEDS AWARD $83 MILLION IN NEW FEDERAL STIMULUS FUNDING FOR MOYNIHAN STATION PROJECT - KICK-START LONG AWAITED PROJECT
With New Funding Phase I Can Now Begin
Moynihan Station Was the Perfect Fit for Stimulus Funding because it Creates Jobs, Upgrades Aging Infrastructure, and Will Create A New Engine for Economic Growth in NY
Schumer: We've Got the Money - Now Let's Get to Work
U.S. Senator Charles E. Schumer today announced that the federal government will award $83.3 million to get the Moynihan Station project up and running. The funding will come from the American Reinvestment and Recovery Act (ARRA). The long-awaited Moynihan Station project will create thousands of good paying construction and related industry jobs and kick start development across the West Side. Last year, shortly after the ARRA was approved, Schumer pledged to fight to secure stimulus funding for the project. Schumer said completing the long awaited station would create an economic engine to restart development across the entire West Side; growth that has stalled with the national economic collapse.
“We’ve got the money, now let’s get to work. I am so proud to have secured this vital funding to get the long awaited Moynihan Station project up and running,” Schumer said. “The best way to get New York’s economy moving again is to keep building and the best project to get things started is Moynihan Station. Moynihan Station is the poster child for the best way to use federal funding – it creates jobs, upgrades aging transportation infrastructure, and leaves behind an economic engine for the entire region. I want to thank Governor Paterson, New York State DOT, the Moynihan Station Development Corporation, the Port Authority of New York and New Jersey and Amtrak for working so hard together on this project.”
The $83.3 million in funding comes from the U.S. Department of Transportation’s Transportation Investment Generating Economic Recovery (TIGER) program, which was created in last year’s American Recovery and Reinvestment Act. The program will award $1.5 billion in funding for transportation projects that demonstrate a significant national impact. Eligible projects include (but were not limited to) highway and bridge, mass transit, freight or passenger rail, and port projects. Applicants could apply for a minimum of $20 million, and a maximum of $300 million.
This funding will go towards Phase I of the project. Phase I, according to the New York State Department of Transportation, consists of:
Improving Penn Station safety and security by creating new platform ventilation beneath Farley. Six new ventilation fan rooms would provide additional, much needed emergency platform ventilation capacity and include critical design elements and features that would adhere, to the maximum extent practicable, to safety guidelines.