Furthermore, at least 20 percent of the planned funding for capital improvements is now unaffordable or at risk ultimately these resources, including all planned congestion pricing revenue, are essential to bring the system to a state of good repair and modernization. Fortunately, there is positive movement on congestion pricing, with the release of the Environmental Assessment (EA), scheduled public input and naming of the Traffic Mobility Review Board (TMRB) members. Given the number of outstanding projects including those delayed during COVID, the MTA will not commit more than $25 billion of its currently planned projects in the originally desired timeframe, even as it successfully increases its annual capital commitments. In fact, the MTA passed an amendment to the 2020–2024 capital plan just last month that increased funding for some priorities, such as signal upgrades, while delaying others, such as the purchase of new rolling stock that has been hampered by production delays. With nearly two-and-a-half years left until the next capital plan, this is a critical juncture at which to assess the state of execution and financing for the MTA’s outstanding projects and recommend actions to help the MTA prioritize its capital investments now and in the future. The deterioration was so severe by 2017 that system performance significantly suffered, and the State initiated a special “subway action plan” to restore service to a reasonable level. Over time, the MTA’s capital plans and investments have not kept up with accumulated and forecast needs furthermore, the plans are often not fully committed within the five-year horizon. To guide its investments since 1982, the MTA has used 5-year capital plans, generally informed by 20-year needs assessments. The MTA also plans to expand the system’s reach and service, including extending the Second Avenue Subway. Many of these investments are critical to bring the system’s infrastructure to a state of good repair (SGR) and modernize the system to increase safety and speed. The Metropolitan Transportation Authority (MTA) has significant needs for capital investment, from signal modernization and track improvements to new subway and train cars to making stations across the system accessible.
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February 2023
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