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Friday, June 13, 2008

Financing transition projects

"Transition" projects are projects which are programmed for implementation in the current (FY 2007-FY 2010) TIP/STIP but which, for either scheduling or obligation authority limitation reasons, are not actually available for implementation until after October 1, 2007, when the planned (FY 2008-FY 2011) TIP/STIP takes effect. To provide a smooth transition between one TIP/STIP period and the next, New Jersey's MPOs and appropriate state and federal agencies have agreed that the first 60 days after approval of the FY 2008-FY 2011 STIP will be considered a transition period, in which projects included in the FY 2007-FY 2010 STIP will be considered eligible for federal funding actions, even though they are not included in the FY 2008-FY 2011 STIP. This list of "Transition" projects is found in Section V of document and is based on current schedule information.

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Wednesday, June 4, 2008

U.S. Transportation Secretary

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Non-Federal Match

TOLL CREDIT Toll Credits were created in the Transportation Equity Act for the 21st Century (TEA-21) and are to be used as a credit toward the non-Federal matching share of programs authorized by Title 23 (except for the emergency relief program) and for transit programs authorized by Chapter 53 of Title 49.

The amount of credit earned is based on revenues generated by the toll authority (i.e., toll receipts, concession sales, right-of-way leases or interest), including borrowed funds (i.e., bonds, loans) supported by this revenue stream, that are used by the toll authority to build, improve or maintain highways, bridges or tunnels that serve interstate commerce.

The federal government has allowed the state and local governments to use toll credits to be part of the 20% local matching funds in regard to transit grants.

This results from the recognition that different modes of transportation are interconnected. Capital expenditures to reduce congestion in a particular corridor benefit all modes in that corridor, be they automobiles, transit buses, or a rail system.

URBAN CORE the Urban Core includes several critically important mass transit projects that integrate transit services in northern New Jersey. The Urban Core includes the Newark-Elizabeth Rail Link and Hudson-Bergen Light Rail, among several other projects. The Urban Core was first authorized in the Intermodal Surface Transportation Efficiency Act (ISTEA) in 1991, reauthorized in The Transportation Equity Act for the 21st Century (TEA-21) in 1998, and reauthorized in the Safe, Accountable, Flexible, and Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU) in 2005. As provided in Section 3031(b) of ISTEA, NJ TRANSIT may use locally funded projects, such as the Kearny and Waterfront Connections and New Jersey Turnpike projects, as local match for the Hudson Bergen LRT and other Urban Core projects.

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Tuesday, June 3, 2008

STIP Modifications and Amendments

The STIP may be modified or amended at anytime according to the procedures set forth in the Memorandum of Understanding (MOU) for TIP/STIP changes between the three MPOs, NJ TRANSIT, and the NJDOT. These MOUs were fully executed between August of 2006 and June of 2007. STIP changes, once approved by the MPOs in concert with either NJ TRANSIT or the NJDOT, are forwarded to the FHWA and/or FTA for their approval, when necessary.

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Monday, June 2, 2008

Congestion Management System

All projects in this STIP that will result in a significant increase in carrying capacity for single occupant vehicles result from a fully operational Congestion Management System (CMS) in place at each MPO.

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