NYC Snags $1.5 Billion in Stimulus Funds for Transportation
Despite having $1.57 billion in federal stimulus money approved for New York City capital transportation – with $1 billion more likely to be approved – an analysis of project data provided by the New York Metropolitan Transportation Council reveals that the majority of the approved funding has yet to be spent.
The Metropolitan Transportation Authority has been approved for a total of $1.2 billion in stimulus funds to go to projects that support New York City Transit’s work such as the Fulton Street Transit Center through the rehabilitation of the 4/5 subway line mezzanine and the A/C line mezzanine as well as construction on Dey Street and the Corbin Building. $423.4 million has been set aside for the Fulton Street project and $276 million has been approved for ongoing construction of the Second Avenue Subway. Of that, $197 million is devoted to construction of the 96th Street subway station.