Port Authority leased land for tunnel project

HACKENSACK - (AP) - The Port Authority of New York and NewJersey paid $95.5 million to lease land for the Hudson River tunnelproject a week before Gov. Chris Christie froze it.

The agency told The Record newspaper it signed a contract forthe site in 2009. The agency said breaking the deal could havebrought a possible lawsuit and substantial losses.

The 2-acre tract is a mostly vacant lot on 12th Avenue at 30thStreet along New York City's waterfront. It is owned by aninvestment group that includes Joseph Rose. Rose was a top officialin the administration of former New York Mayor Rudolph Giuliani.

Christie scrapped the project because he feared cost overruns. The Port Authority says it has been approached by severaldevelopers for use of the land.

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