About time Cuomo owned up to transit crisis.

crisis is an opportunity,” said Gov. Cuomo Tuesday as he laid out plans to address twin crises — one in the subways, the other at Penn Station.

Good for the governor for moving decisively after too many agonizing months of breakdowns and delays, both political and literal.

That the subways are troubled is known to anyone who rides or reads the Daily News, most recently transit reporter Dan Rivoli’s breakthrough story about how the MTA manipulates train movements to adhere to performance standards instead of prioritizing the transport of passengers.

Fixing idiotic policies like that is imperative. So is investing in aging tracks, cars, wiring and switches that are growing less and less reliable and ever costlier to maintain.

Cuomo, bypassing his nonsense from last week that he doesn’t really run the MTA, now casts himself as man in charge. He’s ordered the agency to find smart ways to run more trains, with the promise that money will follow those plans. That means upgrading signals and putting more and better cars on the tracks.

He’s offering $1 million bounties for the best ideas for each, along with a third bounty to extend wi-fi and cell service into tunnels.

Ingenuity has its limits, but it’ll be well worth the cost if bright minds can come up with cost-effective, tech-friendly ways to upgrade infrastructure.

Cuomo also came around to the right solution to pitiful Penn Station: He wants New York State to wrest ownership of the busiest transportation hub in North America from all-but-broke Amtrak.

Do it. Penn, never great, is now a hell hole. And this summer, when Amtrak foresees weeks on end of multiple track closures, will be a veritable commuting catastrophe. (That assumes pokey Amtrak is capable of finishing repairs in weeks, as the railroad anticipates, and not long months.)

State control worked to improve Grand Central, a grand terminal that actually does its passengers proud. But the Pennsylvania Railroad, in a bid to stave of extinction in the early 1960s, tore down the even grander Penn. Merger, bankruptcy and disappearance followed, leaving us poor schlubs in an ill-managed rabbit warren.

There’s a lot wrong with Penn, but the core day-to-day problem is that Amtrak, which carries 4% of the rush-hour passengers, controls the tracks, and the upstairs is three carved-up fiefdoms, with the LIRR and New Jersey Transit treated like second-rate tenants.

Give the station over to a strong single hand that’s accountable to the people it serves. The state of New York fits the bill.