Details Of All Transportation Bond Act (Prop. 2) Projects

[John B]

The NY state Transportation Bond Act or Proposition 2 will be on the ballots statewide on Tuesday and would provide $2.9 billion via borrowing to pay for transportation project throught NY State.

$1.45 billion of the money will be allocated directly to the NYC area transit authority (MTA) to fund various projects in their transit system which many in opposition see as wasteful pork spending and with the interest on the borrowed money it may end of costing NY State taxpayers over $5 billion.

The other $1.45 will be allocated to the NY State Department of Transportation for road and transit projects throughout the state, which including funding for downstate projects not under the authority of the MTA.

A full list and description of all of the NY State DOT projects that would be funded by prop 2 can be found here

[John B]

The rundown of the NYC tranist projects is here.

[CarlNads]

Let me get this right,

A state that is already loosing businesses because of taxes is going to put 2 BILLION worth of work on credit?

Exactly how are these bonds going to be paid off? Same as the Thruways?

[John B]

Originally posted by CarlNads
Let me get this right,

A state that is already loosing businesses because of taxes is going to put 2 BILLION worth of work on credit?

Exactly how are these bonds going to be paid off? Same as the Thruways?

Actually closer to $3 billion in borrowing. A lot of the projects seem worthy but NYC projects like $19 million for creating greenspace along the Bronx River, $81.3 million for improvements to the Van Wyck Expressway, and $30 million for new electronic message boards, cameras, and "vehicle detection devices" are excessive and smell like pork to me. $1 billion for expansions of the NYC Subway, Long Island RR, and a JFK airport to Manhattan train link in the current economic state of NY just doesn't make sense either.