Gothamist: MTA Suddenly Finds $833 Million

geoffism

Fri, 29 Jul 2005 08:26:03 -0500

Suprise, suprise. The MTA found another coffee can. Who is doing the books, Hellen Keller? I do have to say, they are amazing about timing. Back with the last rate hike, another bushel of money appeared, after they said they were in the red and needed to cover their operating costs. And now, post Olympic bid -"POOF", one more can of coins that would have been beneficial to the cause (note: I am not saying I am for or against the Olympics). Their timing is amazing.

lawhawk

Thu, 28 Jul 2005 20:49:40 -0500

It's interesting that the MTA has decided to prioritize its use of money in the following fashion (based on money to be spent): 1) Build a platform over West Side Yards for $471 million (which is $121 million more than the Jets were telling folks it could be done for - is the MTA paying at a premium?) so that it could build its headquarters there - as if the MTA doesn't already have a sufficient headquarters elsewhere in the city 2) Fund pension - how was it possible to be underfunding the pension to such a degree? Where was the oversight from the State and City Comptrollers Office. Why wasn't Spitzer going after the MTA for cooking the books? 3) $12 million for security? That all? Instead of #1, the $471 million could go towards the immediate refurbishment and replacement of various subway stations, crumbling infrastructure, and improved security at critical locations (junction boxes, relays, etc.) The MTA should not be in the real estate business - it should be in the transportation business.

beth

Thu, 28 Jul 2005 12:45:04 -0500

i'm having this thing where i want to, like, hit the MTA with a baseball bat.

Jack

Thu, 28 Jul 2005 12:24:07 -0500

Great! Let's build an unneeded structure on the West Side of Manhattan while platforms and stations outside of the 'tourist zone' (ie: midtown Manhattan) are rotting away and literally falling apart. It's amazing how corrupt the MTA is.

Max

Thu, 28 Jul 2005 12:20:37 -0500

I think Gothamist has its first troll- dont worry 23 is probably the type who likes to piss in the pool (then get out). That said, this (along with the other article about the rail yard in B'lyn) shows that the MTA board is staffed to serve as a conduit for money from the poor to the rich. We need Spitzer and Hevessi to nail them to the wall and get thier priorities straight.

Rose

Thu, 28 Jul 2005 11:41:17 -0500

And which set of books was this money found in?

dude

Thu, 28 Jul 2005 11:07:44 -0500

Hey 23 - Have you ever noticed how all of the major newspapers talk about subways, buses and the MTA alot? Or the fact that they hand out free papers which dedicate about5-10% of their space at LEAST to the MTA? Apparently, people care about public transportation...hmm.

huh?

Thu, 28 Jul 2005 10:35:28 -0500

I don't understand why they don't pass on the costs of building a platform to whoever buys the property, instead of building the platform first and then hoping someone will buy the property.

timThompson

Thu, 28 Jul 2005 10:32:52 -0500

I'm shocked at how underfunded their pension plan must have been. $481 million just to shore it up? How many people does the MTA employ? Makes you wonder how they mismanaged whatever was in the fund previously...

John Di Saia

Thu, 28 Jul 2005 10:01:32 -0500

Well of course. That is from "Bureaucrat Cash 101:" "Thou must spendest the free cash (someone's tax $$$) or thou mightest not get as much next year."

Dave H.

Thu, 28 Jul 2005 09:51:08 -0500

This is about the railyards in Brooklyn, but in 1955, Walter O'Malley wanted to build a new domed stadium over the Atlantic Railyards to move the Dodgers out of Ebbets Field. And he wanted the city to use eminent domain to move a lot of the property owners out, exactly like Ratner's attempting now. When Robert Moses rebuffed the idea, O'Malley started sniffing around LA and eventually moved the Dodgers there in 1957. I find it fascinating that after 50 years, the same exact arguments are being waged over the same exact property in an effort to build a sports stadium in Brooklyn. Historian William Bryk has an excellent account of the Dodgers defection in this week's New York Press here.

23

Thu, 28 Jul 2005 09:33:55 -0500

Shocker! An article on the subway. Although this one is actually newsworthy.