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The state should also let the tax breaks for luxury housing expire. They only got a short term extension in June. There are plenty of ways that the city and the state can use NYC real estate to fund the MTA Capital Budget without having to raise tax rates.
Port Authority got a large "capital" fare increase a number of years ago in order to "extend the stations to accommodate longer trains." They got the fare increase but no station was lengthened by even an inch.
MTA works the same way.
I think we can assume the word "capital" has an alternate meaning of "never gonna happen."
Port Authority got a large "capital" fare increase a number of years ago in order to "extend the stations to accommodate longer trains." They got the fare increase but no station was lengthened by even an inch.
MTA works the same way.
I think we can assume the word "capital" has an alternate meaning of "never gonna happen."
Not even. The MTS does see its capital projects through. In recent years they have added countdown clocks cold, added the new order of r260 trains, and now you have system expansion in the form of the 7 station opening up next month. The Port Suthority has rebuilt the World Trade Center and built Airtrain JFK 10 years ago.
Cut corruption and overpaid salaries first. NYC has one of the highest fares along with the highest utilization (meaning transit is more cost effective for us versus cities with less utilization) so there is plenty of money to improve services without taking more public money.
Every time I see these lines go down for "improvements" when all they're doing is cutting service, someone is pocketing that money.
I tend to agree. But let's no delude ourselves to think that if they expire, any of this money will get earmarked for transit.
One of the points that was made is that for the amount of the tax breaks on the property, the city could have built a lot more affordable housing than the developer did to get the abatement. I have a feeling if Bla gets his grubby paws on that money, that's where its going to go.,
Quote:
Originally Posted by NyWriterdude
The state should also let the tax breaks for luxury housing expire. They only got a short term extension in June. There are plenty of ways that the city and the state can use NYC real estate to fund the MTA Capital Budget without having to raise tax rates.
I tend to agree. But let's no delude ourselves to think that if they expire, any of this money will get earmarked for transit.
One of the points that was made is that for the amount of the tax breaks on the property, the city could have built a lot more affordable housing than the developer did to get the abatement. I have a feeling if Bla gets his grubby paws on that money, that's where its going to go.,
Not only that, but any money that MTA saves under its Capital budget doesn't even go back to MTA. When the MTA completed the repairs for the R train tunnel after Sandy, they completed it ahead of schedule and for cheaper than was earmarked in the budget... Cuomo took those savings away from the MTA and put them into the state budget. There is no incentive for the MTA to save money, because any savings just go back to other state agencies.
I tend to agree. But let's no delude ourselves to think that if they expire, any of this money will get earmarked for transit.
One of the points that was made is that for the amount of the tax breaks on the property, the city could have built a lot more affordable housing than the developer did to get the abatement. I have a feeling if Bla gets his grubby paws on that money, that's where its going to go.,
It's certainly where de Blasio would like to put it. However the MTA and Cuomo can force the issue. De Blasio himself said he wanted to turn the Atlantic LIRR into a subway and build the Utica Avenue line. Clearly the city would have to pay for these things, at least in part.
The more these incidents happen, the more the lines are being drawn between MTA, NYS, and NYC. It does not look like enough money is forthcoming. Can anyone think of creative ideas that would offer dramatic results? I could think of expanding ferry service from Atlantic Highlands, and creating a new CBD in Newark-Prudential or Grand Concourse.
If the MTA REALLY wanted to force the point, they would put a $5 subway/bus fair on the table, and basically say if the city/state don't come up with more money to fund the system, it will be imposed. That MIGHT put enough pressure on the political layer to come up with more money.
Then again, it might not.
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