Port Authority Wants to Take On Moynihan Station Project

The head of the Port Authority, Anthony Coscia, says his agency wants to help finance or take over the troubled Moynihan Station project.

Speaking at a Crain's New York breakfast, Coscia says the exact form of that help was up to governors Corzine and Paterson, who control the agency.... but he says the Port Authority has the will and wherewithal.

COSCIA: We have financial capacity, technical know how and a proud history of building major transportation projects in this region.

REPORTER: New York State's economic development agency is currently in charge of the plan to convert the Farley Post Office building on Eighth Avenue into a new terminal. However, it needs at least another billion dollars to make it work.