Project part of a $10 billion multi-phase replacement to modernize one of the world’s busiest bus terminals WASHINGTON – The U.S. Department of Transportation’s (DOT’s) Build America Bureau (Bureau) today announced it provided a $1.89 billion Transportation Infrastructure Finance and Innovation Act (TIFIA) to the PANYNJ to modernize the Midtown Bus Terminal, one of the world’s busiest bus terminals, serving 65 million annual passengers. The loan supports construction of bus storage and staging facilities, new ramps accessing the Lincoln Tunnel, and 3.5 acres of publicly accessible open green space, the first phase of a $10 billion plan for a new 2.1-million-square-foot main terminal. The Bureau helps communities accelerate delivery of infrastructure projects and reduce project costs by providing low-interest, flexible term loans and other financing tools. (....)