Platform Update

December, 17 2007

ACTION ITEMS

FINANCIAL RESTRUCTURING (ASSET MONETIZATION): Over the last few weeks, Governor Corzine has discussed many of the components associated with his financial restructuring plan. The disclosure of content began in earnest with a meeting with mayors and municipal officials in Atlantic City. Governor Corzine said his financial restructuring plan will involve leveraging the untapped value in the state’s toll roads in order to pay down debt and create a permanent funding source for the Transportation Trust Fund. The Governor has also detailed three principles for his plan: (1) it will result in a reduction of the state’s bonded debt by at least 50 percent; (2) it will provide permanent funding for the state’s Transportation Trust Fund, providing the state and local level with the ability to rebuild the transportation network, reduce congestion and unlock economic development opportunities; and (3) the plan will establish new limits on state borrowing.

Platform For Progress Transportation Initiative Chair Hazel Gluck recently met with Administration officials and reiterated our belief that it is important to have a discussion with the coalition members about the plan in advance of it being released to the general public. The Administration recognizes the value of involving the Platform Coalition and has committed to meeting with us prior to the unveiling of the Governor’s plan, which will be the highlight of his State of the State address on January 8.

REMOVING DISABLED VEHICLES: The Assembly Transportation Committee this week released A-4549 sponsored by Assembly Transportation Committee Chairman John Wisniewski. This bill requires the operators of certain vehicles involved in minor traffic accidents to remove them from the roadway in a safe but expeditious manner in order to avoid unnecessary traffic congestion and delay. The bill further clarifies that moving a vehicle under these circumstances does not constitute leaving the scene of an accident.

Platform For Progress representatives testified in support of this measure, which is based on a major recommendation contained in the Congestion Busters Task Force Report. Moving vehicles involved in minor accidents immediately to the side of the road will dramatically improve traffic flow and thereby reduce congestion.

PORT HEARING SET: In an effort to work closely with groups like NationsPort, a public hearing has been organized and set for Wednesday, April 9, 2008 at the NJDEP in Trenton. The hearing is being conducted by the NJ Clean Air Council, an advisory body that makes recommendations to the state of New Jersey on matters and programs pertaining to air pollution control. The theme of the hearing will be Improving Air Quality at our Ports and Airports. Interested stakeholders will have an opportunity to discuss the logistical and physical operations unique to the ports and airports and the challenges they have in improving air quality. State Chamber staff member, Michael Egenton, who serves on the Clean Air Council, will serve as the hearing chairman. If you are interested in participating, contact me Michael@njchamber.com

ITEMS OF INTEREST

NJ BRIDGE STATUS: NJDOT has released their Final Bridge Report and Capital Investment Analysis. The report details New Jersey’s bridge inspection program and bridge conditions and needs by owner and outlines current repair and replacement efforts. In addition, it provides a comprehensive capital investment analysis in order to ensure the continued safety of New Jersey’s bridges. The report identifies the need for $13.58 billion in infrastructure needs for structurally deficient and functionally obsolete bridges owned by NJDOT, NJ TRANSIT, toll authorities, special agencies, local governments and private entities. The State will have to increase its bridge total funding to $800 million annually, an increase of $291 million over NJDOT’s current spending level. This would enable NJDOT to address the existing backlog of structurally deficient and functionally obsolete bridges and substantially limit other bridges from becoming structurally deficient.

Alternatively, the report advises the investment of $659 million per year, or an additional $150 million, in order to substantially reduce the existing backlog of the State’s structurally deficient bridges. In addition, the report advocates steady funding for the $18 million bridge inspection system and a $25 million increase in annual funding for repairs to structurally deficient local government bridges. It also calls for a more robust capital investment strategy to ensure the continued safety of bridges on toll roads.

NJ TURNPIKE PRIORITIZES FOR 2008: Some major projects are expected to be finished in 2008 under the updated $799 million strategic plan approved by the New Jersey Turnpike Authority. At the top of the list is the completion of the rebuilding of the northbound span of the Alfred E. Driscoll Bridge on the Garden State Parkway over the Raritan River. The final phase of the Driscoll Bridge project will be the $100 million rebuilding of the old southbound span, scheduled to be finished in the spring of 2009.

Another major focus will be the proposed widening of the Parkway between Exits 80 and 63 and the proposed expansion on the Turnpike between Exits 6 and 9. The NJ Turnpike Authority still has to obtain permits from NJDEP for the first 17-mile phase of the Parkway widening, a project estimated to cost between $135 million and $150 million.

THE TUNNEL GETS MORE FUNDING: The Port Authority of New York and New Jersey will provide another $1 billion to build a tunnel to carry trains under the Hudson River, bringing its total contribution to the $7.5 billion project to $3 billion. The authority had committed $2 billion to the tunnel, which is scheduled to be completed by 2017. The agency operates the region's airports, the bridges and tunnels that carry automobiles between New Jersey and New York City, and the PATH train system.

According to NJ Transit, the tunnel will almost double the number of trains that can travel into Manhattan at rush hour, easing congestion as more commuters switch to mass transit amid rising gas prices and more crowded highways, and reducing travel time.

NONSTOP TO SHANGHAI, CHINA: Commuters flying Continental Airlines from Newark Liberty International Airport will be able to get to Shanghai's Pudong International Airport without changing planes. Continental Airlines was granted provisional approval to fly the coveted Shanghai route by the U.S. Department of Transportation yesterday. The route, which will become operational in 2009, will connect two of the world's largest business centers. Five additional US-China routes were also approved as a result of an agreement between the United States and Chinese governments that aimed to increase the number of daily flights between the countries to 23, from 10 within five years. The Platform For Progress was happy to participate in a grassroots letter campaign to get secure the new service to China.

Click here for the previous update.

Michael Egenton
Vice President , Environment & Transportation
New Jersey Chamber of Commerce
216 West State Street
Trenton, NJ 08608
Phone: (609)989-7888 Ext. 119
Fax: (609)989-9696
Michael.Egenton@njchamber.com