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MTA Board Approves $52B Capital Plan
The Metropolitan Transportation Authority (MTA) board unanimously approved a proposed 2020-2024 Capital Program that invests $51.5 billion into the region’s subways, buses and railroads over the next five years. The plan calls for $40 billion in spending on New York City’s subways and buses alone.
MTA said the proposed level of investment is the highest in the transit agency’s history, increasing spending on infrastructure by 70% over current levels, already at the highest levels ever. The plan will be submitted by Oct. 1 to a review board composed of representatives from the Governor, the New York State Senate and Assembly, and the Mayor of New York City.
“We now have the opportunity to quickly start building the system we need for the future, and through the use of the design-build approach it will enable us to deliver those projects faster, better and cheaper,” said Janno Lieber, MTA chief development officer.
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