CNBNews

An Initial Preferred Alignment (Alternative "D") has been identified from the short-list of five alternatives which were studied during the DEIS phase. The estimated cost for Alternative D is $700 million. Construction will be funded under the federal GARVEE program. State Bonds will be issued to provide the necessary funding to award the contract. Repayment of the bonds (plus interest) will be provided from anticipated future federal apportionments over a 12-year period. This interchange is one of the 10 most congested locations in New Jersey (#1 in the DVRPC region), and has an average crash rate four times higher than the statewide average.

As the major carrier of Pennsylvania-bound commuter traffic via the Walt Whitman and Ben Franklin Bridges and as the primary recreational connection to the Jersey shore via Route 42 and the Atlantic City Expressway, this interchange is the busiest in the region. The project is currently in the Final Environmental Impact Statement (FEIS) stage. AnInitial Preferred Alignment (Alternative "D") has been identified from the short-list of five alternatives which were studied during the DEIS phase.

The estimated cost for Alternative D is $700 million. Construction will be funded under the federal GARVEE program. State Bonds will be issued to provide the necessary funding to award the contract. Repayment of the bonds (plus interest) will be provided from anticipated future federal apportionments over a 12-year period. ARRA funding added is to fund Right -of -Way acquisition only. ARRA funding will accelerate the purchase of the necessary Right of Way required for future construction phases of the project.

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