Agency could help rebuild Penn Station

April 15, 2008 1:00:21 PM PDT
A Port Authority of New York and New Jersey official says the agency would like to help rebuild Manhattan's Pennsylvania Station.Port Authority chairman Anthony Coscia (KOH shuh) says that spending the agency's money to help rebuild the nation's largest train station would be "a wise decision."

But Coscia has not said how much money the agency could spend. The Port Authority has $2 billion set aside for mass transit projects - but the New York and New Jersey governors have to agree on how to spend it.

A $14 billion project to rebuild Penn Station and develop Manhattan's Far West side appeared to die last month. The Madison Square Garden sports arena has backed out of the plan.

But Coscia says building the train station first could spur other development.

He spoke on Tuesday at a Crain's New York Business Forum.