Port Authority could rescind $1 NJ Transit lease

Port Authority could rescind $1 NJ Transit lease

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NEW YORK (AP) - The Port Authority of New York and New Jersey could rescind a $1-a-year lease for a park-and-ride lot near the Lincoln Tunnel.

The agency's chief of real estate and development told a committee Wednesday that it should change a deal made in 2012. Published reports have alleged that former Port Authority chairman David Samson voted to approve the lease even though his law firm did business with New Jersey Transit, which operates the park-and-ride lot.

The Port Authority recently said Samson recused himself from the vote but it wasn't recorded accurately.

NJ Transit had been paying more than $900,000 in rent for the property in a lease that went through 2013.

The Port Authority delayed voting on the measure Wednesday pending a new appraisal of the property's rental value.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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