PRESS RELEASE
Contact: Suzanne Mack
201-823-0333

FUNDS FOR INTERCHANGE 14A REPLACEMENT APPROVED, FURTHER DEVELOPMENT OF PENINSULA PROJECT ASSURED

Bayonne, October 23, 2008 – Bayonne Local Redevelopment Authority (BLRA) Executive Director Joseph Nichols today released details of an important New Jersey Turnpike Authority action which clears the path for full development of The Peninsula at Bayonne Harbor, the former Military Ocean Terminal.

On October 10, 2008, the Turnpike Authority approved a $7 billion capital plan which designates $500 million dollars for the construction of a replacement Turnpike interchange at Exit 14A at the Bayonne/Jersey City border. The Turnpike Authority noted that the interchange, as currently configured, presents “serious operational limitations” and “the redevelopment of the Military Ocean Terminal in Bayonne is currently underway and this proposed commercial and residential development will result in a significant increase in traffic.” The existing toll plaza will be relocated “to address operational and capacity deficiencies of the existing plaza.”

In an October 7, 2008 letter to Governor Corzine describing the $7 billion capital plan, Turnpike Authority Chairman Kris Kolluri wrote that “proper investment in our transportation system is crucial to mitigating the impacts of the current economic recession. This proposal has the potential to employ hundreds of thousands of New Jersey workers.”

In 2004 the BLRA received $3.2 million dollars, through the assistance of Senator Robert Menendez, to conduct a federal Transportation Land Use Study which documented the need to replace Turnpike Interchange 14A. Upon completion of the study, the BLRA and City of Bayonne officials began seeking funding from state and federal sources to implement the improvement. Congressman Albio Sires, who recently joined the House Committee on Transportation, assisted the City of Bayonne and BLRA in prioritizing this important project.

Bayonne Mayor Terrence Malloy said “I praise Chairman Kris Kolluri and Governor Jon Corzine for having the courage to address the statewide transportation needs under the current economic conditions. The City of Bayonne looks forward to working with the Turnpike Authority and our neighbor, Jersey City, to expedite construction.”

BLRA Chairman Howard Fitch added, “The BLRA has undertaken a $140 million infrastructure construction program to serve new and planned development at The Peninsula at Bayonne Harbor, and several private developers have already broken ground. We depend on both public and private investment for our project to succeed. The replacement of Turnpike Interchange 14A will add traffic capacity for the full build-out of 6,700 housing units, new hotels and commercial facilities.”

According to BLRA Executive Director Nichols, “The BLRA recently issued a Request for Proposals (RFP) to identify developers for 129 acres at the eastern end of the Peninsula. With this announcement by the Turnpike Authority, private developers will be able to respond to the RFP with confidence that their plans can be brought that much closer to realization.”

For more information, please contact Suzanne Mack at the Bayonne Local Redevelopment Authority at 201-823-0333.

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