At its October 28 meeting, the Board of the Metropolitan Transportation Authority (MTA) of New York approved of its 2015-2019 Capital Program.
The $29-billion Capital Program will finance thousands of new train cars, subway cars, and buses. It also set aside an additional $2.8 billion to improve subway stations, instal countdown clocks at most of the subway stations, and finish the implementation of the Positive Train Control technology on the Long Island Rail Road (LIRR) and Metro-North Railroad.
In addition, those funds will be used to extend the Second Avenue Subway through East Harlem, build four new stations for Metro-North in areas of the Bronx that are underserved, and construct a new LIRR station based in Elmhurst, Queens.
The new program is the biggest investment that has ever been made in buses, subways, bridges, tunnels, and railroads throughout New York, according to the MTA.
“Since our first Capital Program in 1982, we have invested more than $100 billion to rescue our mass transit network from near-collapse and make it an engine of growth for the entire region,” Thomas F. Prendergast, MTA Chairman and CEO, said. “Thanks to the leadership of Gov. Andrew M. Cuomo and the hard work of our dedicated MTA staff, this revised Capital Program will reduce costs and deliver projects more efficiently without cutting any projects or the benefits they will bring to our customers.”
