October 16, 2015
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Cuomo, De Blasio, Prendergast Agree on MTA Capital Funding; $26.1 Billion Committed for Nation's Largest Transit System

New York Gov. Andrew M. Cuomo, New York City Mayor Bill de Blasio and New York Metropolitan Transportation Authority (MTA) Chairman Tom Prendergast announced an agreement Oct. 10 on the remaining funding for the MTA Capital Program: the state has committed to provide $8.3 billion and the city $2.5 billion, comprising $1.9 billion from direct city sources and $600 million through alternative non-tax-levy revenue sources.

The program, which totals $26.1 billion, outlines the next five years’ worth of vital investments to renew, enhance and expand the MTA network. This marks the largest investment in MTA infrastructure in history.

At the state’s direction, the MTA recently reduced the Capital Program Review Board component of the Capital Program from $29 billion to $26.8 billion through alternative delivery methods. MTA will seek further efficiencies or necessary program reductions to close the remaining $700 million difference between the program scope of $26.8 billion and the agreed-to $26.1 billion.

Cuomo called the MTA “the lifeblood of New York” and said the capital plan “is what we need to make the system smarter and more resilient, facilitating major upgrades, expansions and building crucial pieces of equipment so that ­riders are not forced to accept the failures of outdated infrastructure. This plan will mean a safer, stronger, more reliable transit system for people all over New York and is crucial in supporting our growing economy. And this program would not have been possible without everyone stepping up to pay their fair share. Today with this agreement, we are making an historic investment not only in the MTA, but in the future of New York.”

De Blasio said, “Our transit system is the backbone of New York City’s, and our entire region’s, economy. That is why we’re making an historic investment—the city’s largest-ever general capital contribution.”

Prendergast said the impact of Superstorm Sandy three years ago “dramatically demonstrated two important truths: the absolutely essential role that the MTA’s integrated transit system plays in the regional economy and the challenges of keeping the assets of such a trillion-dollar system running safely and reliably. Today, with agreement on the largest capital program ever committed to the future of the MTA, we take a giant step toward making sure that this one-of-a-kind jewel of a system will continue doing what it must—keeping New York and the region moving, and moving ahead.”
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