Despite this step forward, the long-anticipated project and others in the Port Authority’s 10-year capital plan could be negatively affected by the COVID-19 pandemic, which has decimated revenues from the authority’s airports, trains and bridge and tunnel crossings. In an indication of what’s to come, the Port Authority board approved the reallocation of about $200 million on Thursday. Those funds will be redirected from ongoing, large-scale redevelopment of the terminals and taxiways at JFK Airport to standalone projects such as an electrical substation that will be needed whether or not the bigger projects are funded. The coronavirus-related revenue shortfall will have “dire consequences” for the authority’s capital projects by next year if significant federal aid isn’t forthcoming, Executive Director Rick Cotton said in a statement Thursday.