Gov't OKs 2001 Impact Study For $8.2B NYC Rail Project

Law360, New York (July 06, 2012, 6:30 PM ET) -- The Federal Railroad Administration on Friday signed off on an 11-year-old environmental impact statement related to New York City's $8.24 billion remake of Grand Central Terminal, laying the track for the East Side Access rail project to apply for federal funding.

The adoption of the study, which received the Federal Transit Administration's stamp of approval in 2001, fulfills the environmental obligations the Metropolitan Transportation Authority is required to meet in order to qualify for a government loan under the FRA's Railroad Rehabilitation and Improvement Financing program,...
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