New York's Metropolitan Transportation Authority expects to formally submit its proposed $29 billion five-year capital program to a state review board "in the next month or two," an authority official said Wednesday.
"We're still talking to our stakeholders," senior director of capital programs Craig Stewart told the City Council's transportation committee at a City Hall hearing in lower Manhattan. The MTA's board last October approved the capital request, $3 billion of which is self-funded through bridge and toll revenue.
Legislation included with Gov. Andrew Cuomo's executive fiscal 2017 budget commits the state and city to fund a combined $10.8 billion, of which $8.3 billion would come from the state and $2.5 billion the city – the latter quintupled from its previous commitment. The parties announced the agreement last year.
Douglas Johnson, director of the authority's management and budget division, called full capital funding vital, given the MTA's bulging ridership, which frequently exceeds 6 million per day.
"It's more necessary than ever, given that ridership is surging," Johnson said Wednesday.
No new money, however, is in either the state's or city's budget and the funds could face several years of delays, according to the watchdog
According to Cuomo's budget legislation, $7.3 billion in aid for the MTA's capital program for 2015 to 2019 would be available only after the authority has exhausted its other resources. That requirement, said IBO, could delay the authority's access to needed funds, force it to issue revenue anticipation notes and even delay the arrival of federal funding for certain capital projects.
The city, meanwhile, has budgeted only $657 million of its committed $2.5 billion, having included it in its capital budget last May. The release of the balance is on hold pending capital program approval.
"It is still unclear what, if any, impact the timing of the state and city contributions and the current lack of information on funding sources for those contributions will have on the MTA's ability to complete its capital program," said IBO senior budget and policy analyst Alan Treffeisen.
"Without the additional funds budgeted, it is still unclear how exactly the city will pay for the remaining $1.8 billion."
Council members on Wednesday pressed MTA officials for operational improvements such as better Access-a-Ride handicapped travel, further reach into outer-borough "transit deserts" and enhancing station access.
"Opening the rear portions of some stations will help attract some people to the MTA so you can get this funding," said Daneek Miller, who represents southeast Queens.
