Port Authority TIFIA Financing Supports Midtown Terminal
Port Authority Trans-Hudson CorporationSpecial District · Jersey City, NJ- Disclosed value
- Aggregate principal amount not to exceed $1,897,273,235, excluding capitalized interest
- From minutes
- Document date
- Sep 24, 2026
- Renews
- Free account
The 30-second brief
The Port Authority continues its TIFIA financing arrangement with the United States Department of Transportation for the Midtown Bus Terminal Project – Phase 1. The January 2025 loan and bond purchase agreement provides up to $1.897 billion, with a 4.95% fixed interest rate and final maturity in 2064.
United States Department of Transportation holds this financial services contract with Port Authority Trans-Hudson Corporation. Its other public contracts on record include work for NY-State-Port Authority of New York and New Jersey and City of New Orleans.
The renewal date is on record. A free account shows it, with the renewals for every Port Authority Trans-Hudson Corporation contract.
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Contract details
- Contract type
- Financial Services
- Amount
- Aggregate principal amount not to exceed $1,897,273,235, excluding capitalized interest
- Document date
- September 24, 2026
- Term
- Loan and bond purchase agreement entered January 13, 2025; principal and interest payments deferred until November 15, 2034, with final maturity November 15, 2064, subject to earlier project-completion dates
- Renews
- Free account
- Source document
- The Port Authority of New York and New Jersey Minutes 2026-09-24 (Minutes)
United States Department of Transportation's other public contracts
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Questions about this contract
Who was awarded the financial services contract by Port Authority Trans-Hudson Corporation?
United States Department of Transportation was awarded this financial services contract by Port Authority Trans-Hudson Corporation, 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 Port Authority Trans-Hudson Corporation worth?
The United States Department of Transportation contract with Port Authority Trans-Hudson Corporation 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 2026-09-24 (Minutes), dated September 24, 2026 from Port Authority Trans-Hudson Corporation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does United States Department of Transportation hold?
United States Department of Transportation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Port Authority Trans-Hudson Corporation currently buying?
Explore Port Authority Trans-Hudson Corporation's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.