With the MTA’s capital budget funded only through the end of the year, New York’s Senators down in D.C. are growing worried that key infrastructure (and job-creation) projects are going to run out of dollars when the calendar flips to 2012. To that end, Sen. Chuck Schumer has called upon the U.S. Department of Transportation to shift $2.2 billion in what would have been ARC Tunnel money over to the East Side Access project as a low-interest loan. This would guarantee completion of the project and avoid a slowdown should the state fail to act on the MTA capital budget this fall.
“While we have collectively committed billions of dollars to this project, it’s vital that the MTA has the resources it needs to finish this critical mass transit project that has the potential to alleviate congestion for tens of thousands of commuters who use the Long Island Rail Road every day,” he said in a letter to FRA officials. “Though the USDOT has never approved a financing package of this size under the RRIF program … the USDOT was willing to approve a loan of similar size for New Jersey to fund the ARC tunnel.”
DOT did not comment to Transportation Nation, but the MTA confirmed it had applied for a grant for the project. An authority spokesman said the MTA is “in discussions with the U.S. DOT as part of the application process but we don’t have an estimate on when we’ll hear back.” It would be money well spent.
Leave a Reply