The Port Authority of New York and New Jersey has announced that the new estimate for the modernization of LaGuardia Airport has risen to $5.3 billion after stating the price tag for the project would be $4 billion last month. This includes replacing Terminal B. Port Authority Chairman John Degnan stated that he wasn’t sure that earlier estimates “accurately reflected the true costs of the project.” The redevelopment of the airport is part of Gov. Andrew Cuomo’s statewide plan for $100bn in infrastructure investments. The latest cost estimate for the work on LaGuardia is part of a resolution that is scheduled to be voted on at the agency’s next board meeting.
