State takes step toward construction of park linking Jersey City and Montclair
The New Jersey Economic Development Authority's board took a key step Monday toward advancing construction of a proposed linear park connecting Jersey City and Montclair called the Greenway.
A memorandum of understanding approved by the board calls for the authority to hire a construction manager for the Greenway, which is set to replace nine miles of disused rail lines, and begin construction on the project's first phase, a 0.8-mile stretch of development in Newark, later this year.
'It's a really cool, important project. The governor described this as the High Line of Hudson-Essex County,' said Tim Sullivan, the state agency's CEO.
The High Line is a popular park in Manhattan built on an elevated former railroad.
The authority expects to have a construction manager ready for board approval in May, when it is set to establish a project budget for the Greenway's first phase, which is unlikely to require new funds.
The state has spent more than $20 million on land purchases and other expenses related to the Greenway, another $34.2 million from a state debt prevention fund has been earmarked for the project, and Gov. Phil Murphy set aside federal funds for it in New Jersey's fiscal year 2023 budget.
Officials could also tap the New Jersey Turnpike Authority's coffers for additional funding.
The board approved the memorandum unanimously. Board member Phil Alagia abstained.
'The county of Essex is intimately involved in this, so I'm going to recuse myself. I believe some of the property's ours as well,' said Alagia, who is chief of staff to Essex County Executive Joe DiVincenzo.
Separately, the board accepted $65 million from the state Treasury. That money, coupled with $35 million of the authority's own funds, will be used to purchase vacant property for transit-oriented development.
The authority is still drafting a list of properties for purchase and redevelopment, with the aim of purchases in June.
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CNN
19 minutes ago
- CNN
Bessent: The Trump administration should look into the Fed's ‘many mistakes'
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Politico
43 minutes ago
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What's in a name, beautiful bill version
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Chicago Tribune
an hour ago
- Chicago Tribune
US stocks edge higher ahead of a busy week of profit reports
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