PRESENTATION
Project timeline, phasing plan, and funding aspects for the Port Authority Bus Terminal replacement
0:34:41
·
123 sec
Hersh Parekh outlines the project timeline, phasing plan, and key funding aspects for the Port Authority Bus Terminal replacement project. This chapter provides insight into the project's implementation strategy and financial planning.
- Presents a timeline starting with construction in early 2025, following completion of environmental review and ULURP processes
- Describes a phased approach, including construction of a temporary terminal and ramps, followed by demolition of the existing terminal
- Highlights the importance of securing a TIFIA loan before the end of the year to avoid delays due to administrative changes in Washington
- Emphasizes the critical nature of the timeline for project funding and implementation
Hersh Parekh
0:34:41
So to close out our our presentation this morning, go to the next slide, please.
0:34:46
The next slide, please.
0:34:48
So this is our project timeline and our phasing plan.
0:34:52
We are at the end of 2024 now.
0:34:55
We are, closing out on the federal environmental review process with the final EIS received, on October 4th, and we are anticipating the record of decision that will complete the EIS NEPA process, in the next very short period of time.
0:35:10
We are also in the, as you know, the end of the Euler process, and, with that, we expect to be able to, commence construction on this project at the very early part of 2025.
0:35:23
The the first phase of the project will involve the temporary terminal and the ramps and the deckovers.
0:35:29
We've already begun preliminary procurement activity, for the phase 1 of the project.
0:35:35
That will be approximately a 4 year, schedule.
0:35:38
We will then, convert or use the storage and staging facility as a temporary terminal while we demolish the existing bus terminal during phase 2, and that phase 2 will also be approximately a then convert then convert the deckovers into the green space, and the new terminal will become active as well.
0:36:09
What's important to note here is this time line and the criticality of it.
0:36:13
Part of this project funding TIFIA loan, and we want to ensure that we can close on that loan before the end of the year so that there are no additional delays caused by the changeover in administration in Washington, which typically happens regardless of any, transitionary period.
0:36:33
So it is our goal to close out that loan application in the next very short period of time, and with that loan in hand, we'll be able to proceed with the phase 1 of this project.
