Mayor Michael Bloomberg, City Comptroller John Liu and City Council Speaker Christine Quinn on Wednesday announced changes to New York City’s four-year capital commitment plan to accelerate work on more than $1 billion of critical infrastructure projects citywide.

Accelerating start and construction timetables will enable New York to take advantage of low borrowing interest rates and construction costs, they said, estimating that the move could save taxpayers more than $200 million over the life of the bonds.

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