The right way, not Gateway

No one, from the politicians to the construction giants and their unions and the assorted boosters and hanger ons, should doubt that Daily News absolutely and unequivocally supports doubling passenger rail capacity under the Hudson. The problem is that the first phase of Amtrak’s Gateway boondoggle, now priced at $14 billion, adds no new riders, creates no extra capacity and provides no environmental benefits. And even if it’s all done and paid for and built by 2035, it won’t add any value until another $20 billion is spent.

The 133-page Financial Plan and the 86-page New Starts Submission, sent by the Port Authority to the feds on Aug. 27 in seeking a competitive grant of $5,582,613,600, contain enough intentional lies, deceptions and omissions to sink this monster in the muck of the Hudson.

Federal Transit Administration rules require all applicants to have at least 30% of the local share of the construction costs either committed or formally budgeted; money that is just planned does not count.

For several years the PA has applied to FTA, claiming that the $2.7 billion for Gateway in the Port’s 20172026 capital plan was sufficient, exceeding the 30% minimum. And each time the career professional staff of FTA, working with their independent outside contractors, has concluded that “none of the [local] funds are committed or budgeted,” thus failing the project. The FTA is correct as the PA’s own document says: “The Capital Plan is a blueprint for future spending and does not supplant the Board’s authorization process for specific projects and contracts.”

Nothing has changed on that $2.7 billion. It cannot count towards the 30%, nor can the new to the game $2.317 billion planned from New York. These are mere wish lists, not budgeted dollars. There are no bonds ready to market. The FTA must again flunk the project.

FTA also wants applicants to have at least 15% ($1.841 billion) set aside for overruns. But there’s not a cent available for that either. This application deserves an F.