Construction on 7 line extension (source: MTA Facebook page)The Metropolitan Transportation Authority proposed increasing its debt plan to $6.9 billion for its preliminary 2010 to 2014 capital budget at its board meeting this morning, GlobeSt.com reported. Those funds will be one part of the MTA’s $24 billion total capital program, as it seeks to close a $9 billion budget gap, after it already cut $2 billion from the budget last week.
The MTA has also considered selling its real estate assets — like its Madison Avenue headquarters — to offset capital program budget deficits. Among the significant capital projects the MTA currently has underway are the expansion of the Long Island Rail Road to Grand Central Terminal, the No. 7 subway line extension to Manhattan’s Far West Side and the Fulton Street Transit Hub. The MTA board also formally approved the leases for the Apple Store and Shake Shack locations in Grand Central Terminal, according to DNAinfo. [GlobeSt] and [DNAinfo]
