Cuomo put the spending in the context of even larger project he’s undertaken in the New York City area, including an overhaul of LaGuardia Airport and the $3 billion replacement project for Tappan Zee Bridge which connects Westchester and Rockland counties. Simple as that. What’s to stop Cuomo from doing the same thing with new bonds issued by the state to fill the gap in this capital program?
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“Hopefully, they will not be at the expense of signal improvements, station repairs – all of which should be getting more funding, not less”, said Carol Kellermann, president of the Citizens Budget Commission.
While saying such a scenario was done with previous MTA capital plans, a Cuomo spokesman branded talk of borrowing as “speculation”.
“This is going to be the largest investment in the MTA in modern political history”, Cuomo said before stepping off for the Columbus Day parade on Fifth Avenue.
Both the state and city have vowed to fulfill obligations and not divert any money committed to the MTA to other projects.
Cuomo aides did not respond directly to questions about the debt cap.
Elmendorf said he hopes the state will come through for upstate New York drivers who are “paying to support the MTA’s capital program through their gas taxes”. “Again, a few very good reforms and guarantees in the plan”.
But the source of the state funding is still unclear and identified only in the agreement as “state sources”.
As part of an agreement reached last weekend between New York City Mayor Bill de Blasio, New York Gov. Andrew Cuomo and MTA Chairman Thomas Prendergast, the city will now contribute $2.5 billion toward the plan – up from the city’s original offer of $657 million.
“You take an old system, you add more ridership, and you have the stresses that you see now”. “The system is not as clean. And we said enough is enough, we wanted to do the investment that we needed to do”, Mr. Cuomo said.
The MTA has said it can get savings from administrative “efficiencies”, including improved procurement.
“We went from not close to close, that’s what happened”, he said.
“The state stepped up to the plate, and I’m glad that the city stepped up to the plate”, Cuomo said. The City guarantees $2.5 billion to be provided to the MTA by City sources.
At the State’s direction, the MTA recently reduced the Capital Program Review Board component of the Capital Program from $29 billion to $26.8 billion by utilizing alternative delivery methods such as design-build and public-private partnerships, as well as streamlined and negotiated procurement processes. Likewise suburban projects which are funded by the suburbs will be planned by the MTA Board in collaboration with suburban representatives on the MTA Board and with priority consideration given for projects and timing based on input from the those suburban communities.?
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Cuomo and de Blasio, who have been openly feuding since July, marched separately in the parade.
