Plans to start over from scratch with a brand-new Port Authority Bus Terminal (must we throw out the baby with the bathwater?) got an official stamp of approval from the Port Authority chairmen (emphasis on men) on Thursday, who agreed to "allocate the necessary funds for the project's construction" even though the cost and exact location of the new terminal—likely nearby on Manhattan's West Side—are yet to be determined.

A release from the Port Authority gets specific only about where the new terminal will not be—Secaucus, New Jersey, where Port Authority Cuomo-appointee Scott Rechler had suggested sticking the replacement station. "By committing to build a much-needed 21st century bus terminal on the West Side of Manhattan, with the understanding that no bus terminal will be built in New Jersey, we are making a crucial investment in our region's economic growth," said Port Authority Chairman John Degnan in a statement.

The Authority, which committed billions on billions to infrastructure projects over the course of a few hours on Thursday—director Patrick Foye called the meeting the "single largest allocation of capital" by the Authority in one day, ever—also admitted that the cost of the new station is still up in the air, and will be determined based off of the results of an ongoing design competition. The competition launched earlier this month, and the final design isn't likely to be selected until the fall, although three hypothetical designs presented to the board last year cost about $10 billion each. A condo tower will reportedly eventually rise from the ashes of the current terminal, helping cover the costs of the new one.

As recently as October, a working group suggested that the Port Authority's nearby land between Ninth and 11th avenues, a block West of the current terminal, would be a good spot for the replacement. This prompted a strongly-worded response from Manhattan's Community Board 4, as the move would likely require the bulldozing of existing businesses and residential buildings in Hell's Kitchen.

Also on Thursday, the Port Authority committed $35 million to an eventual Hudson River tunnel, about $4 billion to LaGuardia's Terminal B (although the exact taxpayer burden of that project is up for debate), and $2.3 billion to revamp Terminal A at Newark.