Officials at New York’s Metropolitan Transportation Authority are studying the use of technology to minimize subway commuter deaths, but admit it won’t come cheap.

“I’m not saying that it’s unfeasible, but we have technical issues to solve, and no silver bullet on the technological front,” said New York City Transit president and MTA interim executive director Thomas Prendergast after he told the MTA board’s transit committee that improvements could cost roughly $1 billion – steep given the authority’s $31.2 billion of debt outstanding, its commitment to major capital projects, and its estimated $5 billion of short-term borrowing necessary to offset the effects of Hurricane Sandy.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.