The board of commissioners for the Port Authority of New York and New Jersey on Wednesday, May 25, authorized an amendment to the Port Authority Port Truck Replacement Program to expand the eligibility of drayage trucks that can be replaced under the program to include trucks with model year engines 2003 or older.
The TRP is a first-come first-served limited offer to provide grants and financing to eligible truck owners to help them purchase newer, cleaner and more environmentally-friendly trucks. Eligible applicants, either licensed motor carriers or owner-operators, will receive a grant that will cover up to 25 percent of the purchase price of a newer truck and also may qualify for low-interest financing.
The Port Authority implemented a plan to phase out older trucks serving its marine terminals. As of Jan. 1, port drayage trucks equipped with engines model year 1993 and older are not allowed access to the Port Authority’s marine terminals. In addition, starting Jan. 1, 2017, only trucks equipped with engines that meet or exceed engine model year 2007 federal emissions standards will be allowed access.
Because of the support of the United States Environmental Protection Agency, the Port Authority has received a total of $8.57 million in grant funding to assist with the TRP’s implementation. The Port Authority has additionally dedicated up to $25.7 million in funds to provide qualified truck purchasers with low interest financing that may cover up to 75 percent of the cost of the replacement truck at a 5.25 percent interest rate over a five-year term.
