The Metropolitan Transportation Authority (MTA) approved a $29 billion repair and enhancement plan, the largest investment ever in the subways, buses, railroads, bridges and tunnels that keep New York moving.
The 2015-2019 Capital Program will buy thousands of new subway cars, train cars and buses; invest $2.8 billion in subway station improvements; finish installing Positive Train Control on Metro-North Railroad and the Long Island Rail Road (LIRR); bring countdown clocks to the majority of subway stations; begin work on extending the Second Avenue Subway to East Harlem; build a new LIRR station in Elmhurst, Queens; and construct four new Metro-North stations in underserved areas of the Bronx.
The revised Program totals $29 billion, almost 10% less than the $32 billion Program first proposed a year ago. It includes $21.6 billion in core investments in the MTA’s subways, buses and railroads; $4.5 billion for the East Side Access, Penn Access and Second Avenue Subway projects; and $2.9 billion for MTA Bridges and Tunnels.
The Program is fully funded with $11.8 billion in MTA funds, an $8.3 billion commitment from Governor Cuomo, $6.4 billion in federal funds and $2.5 billion committed by New York City Mayor Bill de Blasio.
