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MTA To NYC: Can You Spare Few Hundred Million For Second Ave. Subway?
By
Garth Johnston
Published Jul 28, 2011
Modified Jul 28, 2011
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Jake Dobkin/Gothamist
By
Garth Johnston
Published Jul 28, 2011
Modified Jul 28, 2011
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Yesterday's MTA budget discussions weren't all fare hikes and debt-filled "ticking time bombs." The agency also took the time to demand millions more from the city so as to pay for the ongoing Second Avenue Subway construction and a LIRR link into Grand Central.
The city has already pledged to pay $300 million to the MTA for the project but the agency is now asking for more. Their logic being that the city will soon be raking massive amounts of tax revenue thanks to increased real estate values once the projects are finished (some day). And can you blame the MTA for trying? Its debt is already about to grow by $6.9 billion to fund further capital projects and Albany, which loves to dip into the MTA's coffers in tough times, isn't exactly chipping in.
For now the city isn't commenting on the request, but Mayor Bloomberg is already pushing for the state to carry the load. "I think that a much better idea would be if the Albany legislature gave more money to the MTA," hizzoner said yesterday, "rather than raiding the MTA’s piggybank for other things, which is exactly what they’ve been doing."
Tagged
Albany
debt
grand central
lirr
MTA
second avenue subway
Garth Johnston
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