"As one of the first steps toward addressing the current challenges with cross harbor freight movement, the Port Authority announced the acquisition and planned rehabilitation of the Jersey City, N.J.-based New York New Jersey Rail Corporation, which operates a rail float barge facility that transports cargo-filled rail cars between the two states. As part of the purchase, the agency assumed the existing lease for approximately 27 acres of land at Greenville Yard in Jersey City in connection with the rail float barge operation. The total acquisition cost is estimated at $16 million."
More:
http://www.panynj.gov/AboutthePortAutho ... hp?id=1151
Apparently the PA is still interested in the tunnel project enough to being doing an EIS on it.