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The Trump administration formally committed a nearly $767 million grant covering half the costs of the long-stalled Portal North Bridge, after years of delaying funding or approval for both the bridge and the monumentally larger Hudson River tunnel replacement.

Under the agreement which received final approval on Monday, the federal government will pony up $766.5 million towards the 110-year old swing bridge in Kearny, which has frequently served as a checkpoint for the heavily traveled Northeast Corridor.

During rush hour, the bridge is swung open to allow boats to pass through the Hackensack River which flows underneath it. But the bridge often becomes stuck in that position, snarling train traffic from Amtrak and NJ Transit.

In its place will be a fixed-span bridge built higher above the river so that boats can pass underneath it.

“The project reflects our collaboration with New Jersey Transit to increase transit service capacity and support continued economic development,” reads a Monday morning statement from K. Jane Williams, deputy administrator at the Federal Transit Administration.

Funding is broken down into $57 million from the Federal Highway Administration, over $261 million from Amtrak and $811 million from NJ Transit.

The bridge is part of the regional “Gateway project,” which includes the construction of two new train tunnels under the Hudson River, and major repairs to the existing tubes, which are more than a century old and were heavily damaged by Superstorm Sandy in 2012.

Outgoing President Donald Trump and his administration have held up federal funding and the bureaucratic approval process for the $12 billion projects, despite indications under the Obama administration that it would move ahead.

President-elect Joe Biden has been widely supportive of national infrastructure investment, renewing hopes that he will prioritize the Gateway tunnel once he takes office next week.