Port Auth. Buys Jersey City Rail Yard

The Port Authority's spending $120 million in federal and local funds to buy and upgrade a rail yard in Jersey City, New Jersey. It could end up serving two potential New York City projects.

Mayor Bloomberg has been trying to put New York City's trash on barges and sail it across the Hudson River, where it would be transferred to a train. Two of the hauling companies bidding on the job have said they'd use the Greenville Yards location that's being acquired by the Port Authority.

Greenville would also serve as the western end of a railroad tunnel that Congressman Jerry Nadler wants built under the Hudson to carry all kinds of cargo. Both projects are supposed to get hundreds of trucks off the road each day. Both also require more approvals, and, in the case of the tunnel, billions of dollars in funding.