NEW YORK -- After years of delays and disagreements, a permanent security perimeter will soon be put in around Penn Station.

The private owners of Madison Square Garden and Vornado Realty have reached a deal with security officials from Amtrak and the MTA over how best to secure the transit hub.

"The MTA is committed to the security of its customers and facilities, and we are pleased that we will be able to move ahead with the perimeter plan for Penn Station," a spokesman from the MTA said.

Tim Hassett, executive vice president of MSG Facilities, said he was pleased to have reached a deal with MTA, Vornado and Amtrak.

"We want to thank Commissioner Kelly and his staff at the NYPD for their leadership on this issue and our counterparts at the MTA, Vornado and Amtrak for their commitment to resolving outstanding issues and willingness to reach an agreement that respects the operational considerations of all parties," said Hassett.

On March 25, an angry letter from New York Police Commissioner Ray Kelly warned the warring parties were putting the public's safety at risk. In his letter, Kelly called Penn Station the "single most critical transit hub in the United States." Kelly urged immediate talks so a permanent security barrier to prevent truck bombs can be placed around the station. "This impasse has gone on for too long," Kelly wrote.

The MTA had secured millions in funding for the project, but the money sat unused for three years as the parties argued over where security posts would be placed and which agencies would operate gates allowing trucks access to Madison Square Garden, which sits atop Penn Station.

Security expert Paul DeMatteis of John Jay College said planters currently surrounding Penn Station would do little to stop a vehicle bomb.

"These things they have laid out here are totally ineffective," DeMatteis said. "We don't want someone to look at this building and say, 'It's easy.' But right now, it's easy."

All sides are expected to announce the security deal Monday afternoon.

WNBC.com first reported the impasse and Kelly's angry letter. An MTA spokesman had said the agency secured $15 million to help put in a permanent security barrier. But "Madison Square Garden has refused to accommodate the security plan and we cannot proceed with this important project without their permission and cooperation," said spokesman Jeremy Soffin.

At the time, a spokesman for James Dolan, MSG's chairman, said the Garden is working with the NYPD, Amtrak and Vornado Realty trust to come up with a solution.

Hundreds of thousands of people pass through Penn Station each day. In his letter, Kelly said, "The only near-term option for improving the protection of this complex is a sound security perimeter."

Rep. Peter King, R-Long Island, called the delays "unacceptable." King, who sits on the House Homeland Security Committee said all parties needed to resolve the problem immediately. The parties on when they might meet again to try to hammer out a deal.