NJ Transit has approved the agreement with the New Jersey Economic Development Authority (EDA). The EDA will issue up to US$600 million in bonds, which will be paid back over a 30-year term from the state Transportation Trust Fund. 

The Port Authority of New York & New Jersey has already committed funds to the US$1.5 billion scheme (link opens in new tab).

The new Portal North Bridge is fully designed and its permits are in place. The existing bridge, built in 1910, is a swing-type drawbridge that carries a two-track railway across the Hackensack River in New Jersey. The project will replace the existing bridge with a new two-track fixed structure that will be approximately 3.6km long. It will have a clearance that accommodates current and forecasted maritime traffic, eliminating the need for a moveable span. The openings of current bridge interrupt rail operations and there are often delays caused by mechanical failures.

Department of Transportation commissioner and NJ Transit board chair Diane Gutierrez-Scaccetti said: “The time is long overdue for a new Portal Bridge, which is the foundation of many commuter frustrations.”