It’s thought that the rail link would cost at least $6.0 billion. The MTA has allocated $400 million for the link in its next capital program, and the Port Authority says it will contribute about $560 million. That means Gov. Pataki, who strongly backs the rail link, still neads to find about another $3.0 billion — and that assumes the initial cost estimates are accurate. (The $6.0 billion figure seems low to me.)
Another $500 million could come from canceling the unpopular West Street tunnel, which at almost $700 million is surely the most wasteful of the Lower Manhattan rebuilding projects. West Street could be widened to eight lanes at-grade for just $175 million, freeing the surplus for much worthier projects.