Underscoring a renewed commitment to its core transportation mission, the Port Authority’s Board of Commissioners today authorized $2.9 billion for LaGuardia Airport’s new Terminal B and $2.3 billion for replacement of Terminal A at Newark Liberty International Airport, two 21st century projects that will serve as gateways to the metropolitan region.

The board approved a lease with LaGuardia Gateway Partners to design, build, finance, operate and maintain a new Terminal B. The lease also includes the construction of a new Central Hall, a key recommendation of Gov. Andrew Cuomo’s airport advisory panel, and supporting infrastructure such as new roads and a parking garage.

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