Port Authority Continues $1.897 Billion TIFIA Financing | NY-State-Port Authority of New York and New Jersey | UNITED STATES DEPARTMENT OF TRANSPORTATION

Scope & details

The full contract record, as filed.

Contract amount

Aggregate principal amount not to exceed $1,897,273,235, excluding capitalized interest

Contract type

FINANCIAL_SERVICES

Contract term

Loan and bond purchase agreement entered into January 13, 2025; final maturity November 15, 2064, or the semiannual payment date on or before the 35th anniversary of substantial project completion

Renewal date

2064-11-15

Renewal

Financing remains available for eligible project costs; draws and repayment are governed by the TIFIA loan documents. Principal and interest payments are deferred until November 15, 2034, or five years after substantial completion if earlier.

Document type

Minutes

Source document

The Port Authority of New York and New Jersey Minutes Board Meeting 2026-09-24

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by NY-State-Port Authority of New York and New Jersey?

United States Department of Transportation was awarded this financial services contract by NY-State-Port Authority of New York and New Jersey, as recorded on September 24, 2026. The contract value is Aggregate principal amount not to exceed $1,897,273,235, excluding capitalized interest.

How much is the United States Department of Transportation contract with NY-State-Port Authority of New York and New Jersey worth?

The United States Department of Transportation contract with NY-State-Port Authority of New York and New Jersey is valued at Aggregate principal amount not to exceed $1,897,273,235, excluding capitalized interest, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in The Port Authority of New York and New Jersey Minutes Board Meeting 2026-09-24 (Minutes), dated September 24, 2026 from NY-State-Port Authority of New York and New Jersey. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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