MTA reveals $51.5B Rx for NY’s sick transit
The MTA on Monday revealed details of its five-year capital plan — announcing a $51.5 billion cash splash that will largely go to fixing up the city’s ailing subways and buses.
Much of that moolah will be used to fund city transit chief Andy Byford’s “Fast Forward” program to modernize the systems, which includes upgrading antiquated signals on six subway lines within five years.
In all, 11 routes stand to benefit from the $7.1 billion signal modernization effort: the A and C on the Fulton Street line, the 4, 5 and 6 on the Lexington line, the N and W in Astoria, and segments of the G,F, M and E lines.
At the end of the capital construction process, more than 50 percent of subway riders will “be served” by lines with 21st century signals, the MTA said.
The plan also proposes $6.1 billion for new subway cars, $2.6 billion for track maintenance, $5.2 billion for station accessibility and $2.5 billion for 2,375 new city buses — including 500 electric buses at $2.2 million a pop.
The agency also wants to splash $1.6 billion on the second phase of the Second Avenue Subway, which will extend the line to 125th Street.
But it could be in for a fight with Mayor de Blasio — as it is asking the city to chip in $3 billion of the total cost, as much as the state’s anticipated contribution.
De Blasio and Gov. Cuomo spent months in heated negotiations over their respective contributions to the previous capital plan, which cost $33 billion. The state ultimately contributed $8.3 billion, to the city’s $2.5 billion.
A similar spat played out over funding for Cuomo’s $835 million emergency fix for the subways during the 2017 “summer of hell,” with de Blasio eventually agreeing to pay half.
A rep for Hizzoner said de Blasio is reviewing the new capital plan.
Agency officials on Monday argued that a 50-50 split is “appropriate” this time around, given that the bulk of the funds will be going to Big Apple transit.
“The $40 billion number dedicated to New York City Transit — subways, buses, across the system — exceeds the entire existing capital plan. That’s extraordinary,” MTA Chairman Pat Foye said.
The agency is already counting on $25 billion of the funding to come from a new Internet sales tax, new tolls on city-owned bridges and a new tax on homes worth more than $2 million.
Another $9.8 billion will be covered by borrowed debt — to be paid back, ultimately, by straphangers’ fares and drivers’ tolls.
The complete plan has yet to be published and must win MTA board approval by Oct. 1.
After that, it will require unanimous approval from the Capital Program Review Board, made up of reps for the governor, mayor and each chamber of the state Legislature.