WTC Records Folder 0140 label, 2001

NYC 9/11 Public Portal Document

ferry service disrupted by the destruction and to partially compensate for the loss of PATH commuter capacity to lower Manhattan. The destruction of EZPass systems and telecommunications equipment housed in the World Trade Center will cost an estimated $30 million to replace. Finally, an Authority-owned power substation was destroyed, with an estimated replacement cost of $90 million.

As a result of the attacks, the Port Authority must also take steps to ensure public safety and protect commerce by elevating the level of security at its airports, port facilities, tunnels, bridges and terminals. The Authority estimates that these necessary enhancements will cost more than $1.3 billion.

In addition to physical damage, the operations and revenue streams of the Port Authority have been materially affected by the disaster. Income from the Authority's airports, including LaGuardia, Kennedy and Newark airports, is estimated to be off by at least $35 million. A one-week closure of the Authority's shipping ports and the Authority Bus Terminal lowered revenues by $10 Port

million and $9 million, respectively. Closure of toll facilities such as the Holland Tunnel and a significant drop in traffic on the Authority's other bridges and tunnels will cost the Authority $35 million. Destruction of the PATH subway Port

station will reduce fare revenues by $70 million.

In summary, the Authority estimates a preliminary impact of $2.7 billion. Port

However, this estimate may need to be increased if the cost of World Trade Center rebuilding exceeds the availability of insurance.

($ in millions) PATH subway station reconstruction $850 Replacement of computer systems, office equipment and $150 vehicle fleets Ferry service restoration and commuter substitution $100 Replacement of Authority-owned power facility $90 Replacement of EZPass and telecommunications $30 equipment Cost of security enhancements $1,325 Revenue losses directly attributable to disaster $159

While the Port Authority has $1.5 billion of property damage and revenue loss insurance per occurrence, which may be applied to a portion of these costs, it is clear that the total impact will exceed any available insurance coverage.

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NYC-WTC 000136754