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Among the many "draconian" recommendations made by the Ravitch Commission for keeping the MTA afloat, conspicuously absent was a call to transfer $2 billion worth of transportation money belonging to the Port Authority of New York and New Jersey. The Observer takes a closer look at that loot today, and wonders what's to come of it; sources tell the paper that former M.T.A. chairman Dick Ravitch wanted it for the MTA, but there's speculation that Paterson vetoed that move. Now the moneys—originally intended to fund a "New York-based regional transportation" project—may get swallowed up by the beleaguered World Trade Center site, which is way over budget. Or it may get transferred to that perennial pipe dream: a new Penn Station. Anything, it seems, but helping out the subway system!
Port Authority's $2 Billion Gathering Dust, Could Get Thrown Into WTC
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How about extending the PATH all the way into Newark Airport?
how about someone say wait a minute it was earmarked for a reason! and lets use it as such!!!!!
the WTC isnt a transportation project!
The second ave subway is, making sure every station in NYC has wheelchair access is... making sure we keep moving... but I'm sure it'll get used in a project that is just a black hole of corruption and money.
while i don't necessarily think that putting it towards the WTC is a decent idea, it is a PA project considering it is their land.
Also, the money would be better served going to a PA project, but that is currently asking for funds from Congress (hoping that transportation would be included in the new stimulus bill): the new trans-Hudson rail tunnel, which is greatly needed and has been for decades. Of the funding currently considered to be secured, more than half is coming from PA, with the remaining amount coming from the state of NJ and none from the state or city of New York. According to what I read last week, NJ Transit feels that the project needs to secure another 3 billion. So instead of asking for all of it from the federal gov, why not move that 2 billion from the PA itself and then only ask the fed for 1 billion.
I don't really understand the problem. PA is a self-sufficient entity that actually earns every cent it collects. Why would the PA give the MTA $2 billion for no reason? That's like saying Time Warner has $2 billion in cash, why can't that money be used for subways?
Whatever they do, they shouldn't put it into the WTC project.
gathering dust? Pah! That money is invested in the stock market and will double in value in no time.
The Port Authority has funded several MTA things in the past. I remember some Metro-North trains that said something like "purchased by the Port Authority of New York and New Jersey" as well as some NYC Transit buses.
It would be nice to see it actually go to the 3 billion dollars in improvements they've been promising on the PATH. I haven't seen anything significant done for the PATH in ages, and they're even planning on cutting weekend service on the WTC line for THREE YEARS (!) starting in the summer.