Investments

Bank Of America Investment State officials this week announced a $40 million plan to increase public transportation services to senior citizens, residents with disabilities and people who don't drive.

a presentation by Ralph Braskett of the Committee for Better Transit (NJ Coordinator) style integrated public transit system in our region.

Investment Opportunity The board of directors for NJ Transit, the state's public transportation system, approved the measure Wednesday to fund the programs with the help of some federal and local dollars. The state plans to work with all 21 counties in the Garden State to fund local public transportation incentives.

Gov. James E. McGreevey's administration has said it never would have approved the project. Supporters contend the line will be an economic development tool and fill a key transit link for southern New Jersey by offering a connection in Trenton to the Northeast Corridor line and New York City. Fears the line won't attract many riders have helped spur NJ Transit's marketing plan. NJ Transit has said it's also planning bus connections to the system, with a special focus on connections between the State House and the Trenton Train Station.

Banc Of America Investment Since 1995, Gloucester County has received these types of funds to operate and improve its countywide transportation services for senior citizens and disabled residents, said Rick Decosta, of the Gloucester County Division of Transportation.

A lawsuit over the construction of the light rail line being built between Trenton and Camden has cost NJ Transit $2 million in legal fees and the case is just getting started. NJ Transit officials yesterday said they are preparing to extend their contract with Sills, Cummis, Radin, Tischman, Epstein and Gross, the Newark law firm handling the case for the agency. At stake is more than $100 million in alleged construction overruns in a project that will end up costing more than $1 billion, including interest and consulting fees.

Banking Investment Decosta said the funds go toward several important services, including transporting senior citizens to medical treatment appointments and taking disabled residents to work-training programs. He added the county transportation department provided rides for approximately 94,000 Gloucester County seniors and disabled residents last year.

Today, track railroad tunnels that are nearly a century old. Although they have been upgraded with modern signals and other improvements, they are used to capacity by NJ Transit and Amtrak trains. track tunnel, costing $4 billion to $5 billion, would allow up to 21 more trains per hour to cross beneath the Hudson. It would enhance the value of the Secaucus Transfer Station, nearing completion in the Meadowlands, and enable NJ Transit to electrify the Raritan Valley Line for direct service to New York, eliminating the present transfer in Newark.

Investment Solution Strategic Kristin Parkinson, spokeswoman for NJ Transit, said the statewide program is designed with South Jersey in mind to help increase transportation services in rural areas.

That was 30 days ago, Township Administrator Richard Brook said, and the township is still waiting. The officials said NJ Transit never previously disclosed the dirt contained toxic materials. Mayor Michael "Mickey" Muchowski said the township "saw them bringing in the soil and were quite happy with the berm itself." But he said there was some concern about safety and "because of our past experiences with NJ Transit we were reserving judgment" until officials saw the test results.

Investment Banking Services Parkinson said the transportation program for senior and disabled residents in Gloucester County is earmarked to receive $567,093, while the Rural Transportation Assistance program in the county is expected to receive $95,221 from the federal government and $33,211 from the state, which will be matched by county funds for a total of $66,422.

Bank Investment ''These programs increase the mobility of New Jerseyans who, in many cases, are unable to drive, especially persons with disabilities, senior citizens and those living in rural areas,'' said George D. Warrington, executive director of NJ Transit, in a released statement Thursday. ''These programs also help us to achieve our mission to provide statewide, affordable public transportation.''

Alternative Investment NJ Transit approved approximately $24.9 million to operate the Senior Citizen and Disabled Resident Transportation Assistance Program and $3.5 million for Jobs Access and Reverse Commute program, part of the state's Welfare to Work initiative where counties provide public transportation services to help those in the Welfare to Work program obtain transportation to job opportunities.

Online Investment Services The measure for the senior citizen and disabled resident programs will be funded through the Casino Revenue Tax Fund, officials said.

Accompany Essential Investment State transportation officials estimate that each year 1.8 million seniors and disabled New Jersey residents depend on and use some form of state public transportation.

Investment Company By Shawn Menzies
Gloucester County Times - 6/14/2002

Topic: Transportation

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