Oops! MTA Projects Go Billions Of Dollars Over Budget As Taxpayer Picks Up The Shortfall

Martin Dover

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A report released by the Metropolitan Transportation Authority (MTA) on Wednesday revealed that the costs of several new city transit projects have surged to staggering levels.

Despite increased scrutiny on expenditures, the agency disclosed significantly inflated price estimates for eagerly anticipated projects. For instance, there was a $600 million escalation in the cost of constructing a new West Side 7 train station, and the expense for the next phase of the Second Avenue Subway skyrocketed by $4 billion.

These revised project costs were discreetly included within the MTA’s legally mandated evaluation of its expected infrastructure improvement needs over the next two decades.

During a briefing, MTA officials avoided addressing the rapidly rising costs directly, asserting that the projections were preliminary. Simultaneously, they expressed hope that their “innovative comparative assessment” of the projects would contribute to the ongoing discussion.

“We’re not committing to funding any of these investments, but we’re providing valuable insights into the system’s condition, including the potential costs and advantages of these potential expansion projects,” stated MTA construction chief Jamie Torres-Springer.

The exorbitant cost estimates were presented in the report with minimal explanation:

1. The long-anticipated 7 train station at 10th Avenue is now expected to cost a minimum of $1.9 billion, marking a 46% increase from the initial estimate of $1.3 billion when adjusted for inflation.
2. The projected cost of extending the Second Avenue Subway from 63rd Street to Houston Street has surged to over $13.5 billion, approximately 40% higher than the originally budgeted $9.5 billion when adjusted for inflation.
3. The promised enhancements to expedite and expand service on the Long Island Rail Road’s Port Jefferson branch have seen costs escalate from the “at least $2 billion” figure reported to lawmakers in February to now exceeding $3 billion.