As the MTA gears up for a full-court press in Albany and City Hall concerning funding for its next five-year capital plan, reactions are coming in from across the spectrum. Few people are openly discussing congestion pricing, but one developer and MTA Board member spoke at the meeting yesterday advocating for East River bridge tolls. I’m sure we’ll hear more about that in the coming weeks and months. After all, the MTA doesn’t expect to resolve this $15 billion gap for another year or so.
I’ll have more on the specifics of the plan soon, but let’s round up the news and reactions in rapid response form.
The tireless Dana Rubinstein has two excellent pieces on the capital plan. They’re both worth a read. In one, she notes that the capital plan has appeared before the MTA Reinvention Commission had a chance to do much more than hold a bunch of hearings. They were supposed to come up with ideas to better fund and support transit in and around New York City, but I have been skeptical of the idea since the start.
In her other piece, Rubinstein tackles the thorny question of city funding. Direct contributions from City Hall to the MTA’s capital plan peaked during construction of the 7 line extension but still accounted for only around 10 percent of the total funding. In this five-year plan, the MTA expects very little from Mayor Bill de Blasio’s New York, but various factions in the agency want to change that. Can the MTA convince the city to fork over a whopping $125 million a year (up from $100 million) in direct contributions? I would hope so.
Staten Islanders are getting two new boats out of the feds for Sandy recovery and a brand new fleet of rolling stock from the Staten Island Railway. Still, advocates are not happy the next five-year plan does not include money for the North Shore BRT line or the West Shore light rail plan. More on that soon.
As part of a funding scheme, the MTA wants to use the payroll tax to bond out more capital money. This could lead to pressure on the operating budget (in the form of toll and fare increases and more debt obligations), but it is one way the MTA can stretch its existing revenue streams to beef up its capital spending.
That should give you enough to read and ponder for now.