On January 20, 1956, the three major agencies in New Jersey regarding transportation, the New Jersey State Highway Department, the New Jersey Turnpike Authority, and the Port Authority of New York and New Jersey reached an agreement to construct a freeway from the Holland Tunnel to the Lincoln Tunnel, which serves both states. The route, known as the Hoboken Freeway, was to start at Interstate 78 and the Newark Bay Extension of the New Jersey Turnpike northward towards the Lincoln Tunnel, where it would also serve the Port Authority's piers in the city of Hoboken. The State Highway Department also put forth a possible extension from the Port Authority docks northward to the Lincoln Tunnel. At the time, the Port Authority and the Turnpike Authority would both pay a percentage to build the highway. This was divided 60-40 with the Turnpike Authority paying the 60% and the Port Authority paying the other 40. The project according to the state agencies would relieve congestion on the New Jersey Turnpike and throughout Hoboken. The original cost to construct the freeway was situated at about $9 million (1956 USD), but would be up for future changes.