The Real Deal New York

Cuomo’s massive infrastructure projects to cost $100B

The source of the money is not yet clear

January 12, 2016 12:01PM

Andrew Cuomo

Andrew Cuomo

Over the last week or so, Gov. Andrew Cuomo has proposed more than $100 billion in infrastructure plans for New York, but it’s not quite clear how he will pay for it.

The projects — which include a new La Guardia Airport and massive redevelopment of Penn Station — make up the largest development agenda “since Robert Moses,” Cuomo’s secretary Bill Mulrow, told the New York Building Congress on Monday at a banquet, Politico reported. Mulrow didn’t specify how the state will pay for the ambitious development projects, which are expected to cost more than $100 billion.

“The governor thinks it’s time to reignite the ambition, the creativity, and the capacity of New York,” Mulrow said in a statement. “We are going to use public-private partnerships.  We are going to do design-build contracting.  The community will be involved as it’s never been before.”

The governor’s office claims the projects will spur the creation of 250,000 jobs.

Last week, Cuomo announced plans to redevelop the Farley Post Office and Penn Station to the tune of $3 billion. He also announced a $1 billion overhaul of the Javits Center. [Politico] — Kathryn Brenzel

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