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As if we need any more reason to wonder how the MTA does its accounting, there's this article from the NY Times titled, "Cash for Forgotten Airport Link May Help Build Stadium Station." Really. See, Governor Pataki and Mayor Bloomberg want to build a new Metro-North station for the new Yankee Stadium, but where would this money come from? No, not some loan or bond the state takes out, but pretty much from under the mattress: "...the transportation authority has dug into an old pot of money and found $40 million. The money is left over from $645 million that was set aside for the extension of the N subway line to La Guardia. The airport subway link, which was a pet project of Mr. Bloomberg's predecessor, Rudolph W. Giuliani, was 'abandoned,' said Tom Kelly, a spokesman for the authority." Gothamist proposes that we go through the MTA's books and we bet we'll find a couple hundred million just laying around. All we want is a .1% finder's fee - heck, we'll take .05%. So, magically finding this money means that the station can probably be built.
In other development news:
- The City Council will most likely approve both the Yankees' and Mets' new stadiums plans.
- Columbia and NYU each have over half a billion dollars in real estate in the city... is it still true the number one landowner in the city is the Catholic Church?
- And the Port Authority approved Larry Silverstein's acceptance of the PA's proposal. They promise that five buildings will be built by 2012.
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Just a bit of speculation. Every business or corporation has assets to wheel and deal with. The MTA could be loaning the money and getting a hefty quick return on it. Think about it...17% interest on a $40 million loan and throw in a few shares. Not bad. In the end, they have more money to say they don't really have. Face it, they have the money. The government does the same thing. They come up with billions of dollars when they want them in a short period of time. Just ten years ago, for an entire decade, the government closed military installations all over the world and country saying they could not afford to maintain them. Now there is one big base in Iraq that is costing the USA whopping fortune. They haven't been able to give the lower ranking troops a serious increase in wages. They say that they can't find it in the budget. Sounds familiar.
"Cash for Forgotten Airport Link May Help Build Stadium Station."
"The airport subway link, which was a pet project of Mr. Bloomberg's predecessor, Rudolph W. Giuliani, was 'abandoned,' said Tom Kelly, a spokesman for the authority."
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"Forgotten"? or "Abandoned"?
Two different words.
I doubt the project was "forgotten". And a subway link from the end of the current N line to the airport makes a lot of sense. We are, after all, pretty much the only major western city without a direct subway ride to the airport.
How, exactly, was this money earmarked for the subway airport extension? Why are they allowed to simply decide to use it for something else?
Let the Yankees build a Metro-North station if they want one. I want a ride to the airport.
Glad they "found" the money. Now, let's see 'em use it for what was intended.
Or give it back and have it reapportioned.
And where's the other $605 million?
Goddammit! I don't want to go to a fucking yankees game I want to go to the goddamn airport on a fucking train. Is that really so fucking hard to understand???
wow, what? being able to take the subway to/from the airport would be totally sweet. what the hell happened?!
Biggest obstacle to a N line expansion to LaGuardia: Astoria NIMBYs who don't want the realities of city life intruding on their psuedo-suburbia.