The Real Deal New York

MTA projects full steam ahead despite budget cuts

January 03, 2012 11:30AM

Work on the Metropolitan Transportation Authority’s four major New York City projects hasn’t slowed down, despite major budget deficits in 2011, GlobeStreet.com reported. The 7 subway line extension, the Fulton Street Transit Center, the Second Avenue Subway and East Side Long Island Rail Road access are all on schedule for their planned completion dates, according to the MTA.

Work on the Lower Manhattan Fulton Street Transit Center is more than 50 percent complete, with all the structural work on the mezzanine level for the A and C trains now finished, GlobeStreet.com said. Meanwhile, the restoration of the historic Corbin building at 192 Broadway is still slated to be completed later this year and work on the 7 line’s 34th Street station has been completed.

Early in 2011, the MTA succeeded in raising its debt ceiling by $6.9 billion to pay for these projects, while retiring $6.2 billion of existing debt for 2010-2014, GlobeStreet.com said. [GlobeSt]

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