New Jersey Gov. Chris Christie announced Wednesday he is officially shutting down a multibillion-dollar tunnel project after reviewing plans for carrying out what would have been the nation's largest infrastructure endeavor.
The Access to the Region's Core project, also known as the Trans Hudson Express ARC project, is a proposed tunnel connecting New Jersey and New York City, along with an expansion of New York's Penn Station. It would have created 6,000 jobs and taken 22,000 vehicles off the highway. But Christie terminated the proposal, citing projected cost overruns.
A statement from his office said "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 for the project ranged from $9.8 billion to $12.7 billion.
After initially shutting down the project earlier this month, Christie had agreed to an additional two-week review of it at the request of Transportation Secretary Ray LaHood. Christie stuck to his decision after that review.
Read More:http://edition.cnn.com/2010/US/10/27/new.jersey.tunnel.project/index.html
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