(Source: New York Times, November 11, 2015)
NEW YORK — Federal and state officials announced an agreement on Wednesday to create a corporation within the Port Authority of New York and New Jersey to oversee long-awaited plans to build a new rail tunnel under the Hudson River. The entity, called the Gateway Development Corporation, will coordinate the project and assemble the billions of dollars needed to pay for it. It will be controlled by a four-member board with representatives from New York, New Jersey, Amtrak and the federal Transportation Department.
Full story: New York Times