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Time is Running Out

On June 11, Crain’s published an op-ed written by Felix Ciampa, executive director of ULI-NY, and William Henderson, executive director of PCAC, arguing that time is running out to find funding for the 2015-2019 Capital Program:

“When the MTA faced a similar shortfall in its last five-year program, state leaders divided the funding into two-year and three-year segments. That ended up increasing the MTA’s debt to $34.1 billion and led to a reduction in investment from the originally proposed five-year program. The results can be seen every day as we watch the system struggle to accommodate surging ridership.

“Given the absence of any real discussion of funding solutions, state leaders may be tempted to again divide the funding for the program. Doing so, and funding the program through borrowing, would only push the search for money down the road. We urge lawmakers not to take this approach again.”

The full op-ed can be found here: Albany must not repeat its mistakes with the MTA.

Find out more about the MTA’s 2015-2019 Capital Program at our website