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NJ TRANSIT BOARD APPROVES LAND ACQUISITION FOR TOWACO PARKING EXPANSION

Agreement Will Double Parking Capacity at Towaco Station

NEWARK, NJ, November 5, 2001 -- In a continuing effort to meet growing passenger demands, NJ TRANSIT's Board of Directors has advanced a project to increase parking capacity at Towaco Station -- located in Montville Township -- by purchasing a vacant one-acre parcel of land adjacent to the rail facility.

Today's Board action allows the Corporation and Montville Township to jointly purchase the property for $550,000, with each entity paying half the purchase price. NJ TRANSIT would use the property to add 132 spaces to its current park/ride facility at Towaco Station, bringing the total number of spaces to 244.

"This project helps to meet New Jersey's expanding commuter base," said NJ TRANSIT Board Chairman and State Transportation Commissioner James Weinstein. "I commend Montville Township officials for working with NJ TRANSIT to make the Towaco Station parking expansion project a reality."

"Next year's opening of the Montclair Connection will mean more customers using NJ TRANSIT's Boonton Line," said NJ TRANSIT Executive Director Jeffrey A. Warsh. "The promise of faster service to Hoboken and a new service to midtown Manhattan will increase demand for parking at stations such as Towaco. I, too, applaud the township for their commitment."

Last year, NJ TRANSIT constructed a new low-level platform, a mini-high level platform and shelters for rail and bus customers at Towaco Station. The station was also enhanced with new lighting, historic platform railings, new curbs, brick pavers and landscaping. Montville Township contributed toward that project as well.

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