MTA gives post-Sandy update
Metropolitan Transit Authority board member Allen Cappelli and Assemblymember Nicole Malliotakis gave a quick update on the agencys post-Sandy recovery on December 5.
Damages from the storm will cost the MTA a whopping $5 billion, something that the state will eventually have to deal with, Malliotakis said.
We have to look for other sources of revenue and ways the state can assist the MTA so they dont have to continually go to the commuter to ask for more money, she explained, adding that the proposed toll and fare hikes are hurting residents.
Cappelli said that the agency hopes to get the lions share of that $5 billion from FEMA, but the process could take three to four years. In the meantime, the MTA does have insurance that he hopes will be able to cover most of the damages.