Officials: NYC budget includes $125 million to MTA
New York City is set to increase its capital contribution to the region’s transportation authority.
City officials told The Associated Press on Monday that Mayor Bill de Blasio’s upcoming budget will include $125 million this year for the Metropolitan Transportation Authority.
The MTA asked for $657 million in capital contributions between now and Fiscal Year 2019.
City officials said the city will meet that goal. That will mean $125 million a year for five years. There will also be an additional $32 million city match to a federal grant.
De Blasio will make the announcement during his executive and capital budget presentations later this week.
The city for years had contributed $100 million annually to the MTA’s capital plan.
The MTA has a $14 billion capital budget shortfall.