The MTA’s biggest money pit

The MTA’s biggest money pit

With the beginning of LIRR service into Grand Central Terminal nonetheless at the very least 4 years off, the estimated value of the mission final week jumped one other $1 billion, to $11 billion and sure nonetheless rising.

Early estimates had the East Facet Entry job operating $2.2 billion and ending by 2009. And MTA board member Scott Rechler says, “I wouldn’t be stunned if we see extra value overruns.”

No, present MTA administration isn’t guilty for this mess. However the company’s leaders have but to point out they’re altering the tradition that produced it. A tradition that solely found, years into the mission, that it was paying 200 further employees who had no precise duties (out of 900 complete) round $1,000 a day every on the East Facet Entry mission.

As a landmark New York Instances investigation confirmed final yr, the MTA’s development prices are far, far increased than even these in such equally high-cost, union-friendly cities as London and Paris, and 7 instances the world common for comparable city tasks.

The additional billions needlessly squandered on the East Facet Entry cash pit, and on the Second Avenue Subway, have sucked money from different transit priorities — comparable to monitor and sign repairs and upgrades.

Subsequent time your subway or commuter practice is held up mysteriously for what looks as if perpetually, use the time to think about this: The MTA has but to publicly identify a single supervisor, and even former supervisor, who bears blame for all this.

Some tradition, isn’t it?

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