MTA Statement On Capital Program Deferrals
The MTA has issued a statement on their capital program deferrals.
The MTA has a limited allocation of capital funds, and it is required to keep its spending within this budget. A nationwide run-up in construction costs has dramatically increased the price of many critical MTA projects. To stay within the overall capital budget, the MTA has been forced to defer some projects. As a result, last month the MTA proposed an amendment to its capital program that defers projects that are budgeted at approximately $2.7 billion.
Every project in the capital program is important, but the proposed deferrals, including several fan plants, are projects that were chosen because they can be delayed without impacting the safety of the system. All of the MTA’s underwater tunnels are protected with new fan plants in case of emergency, and the MTA continues to invest in other initiatives to significantly reduce the risk of fire and smoke. The MTA’s transportation network is safer than ever, and none of the proposed deferrals put that safety record at risk.
In light of the significance of the projects on the deferral list, we intend to complete them as quickly as possible. If the Ravitch Commission identifies funding for them, and the State Legislature allocates it during the life of the current 2005-2009 Capital Program, the MTA will submit a new amendment that reinstates these projects. However, delaying the current capital program amendment will force the MTA to halt work on critical projects currently in the plan, including: mega projects like Second Avenue Subway and East Side Access; 23 station renovations in the Bronx, Queens, Brooklyn and Manhattan; purchase of new subway cars; new signals in Queens; safety improvements on the LIRR; and Metro-North train rehabs.
xoxo Transit Blogger
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