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Q&A
Explanation of city's $3 billion contribution to MTA capital plan
1:48:53
ยท
34 sec
Director Jiha provides information on the city's mandated $3 billion contribution to the MTA capital plan. This requirement impacts the city's ability to fund other priorities.
- The state requires the city to contribute $3 billion to the MTA capital plan
- The state is providing a debt capacity increase of $3 billion to finance this contribution
- This allocation could have been used for other city priorities such as housing
Jacques Jiha
1:48:53
Oh, the $3,000,000,000?
1:48:55
The there is The state also requires us to contribute $3,000,000,000 in capital for the capital plan of the MTA.
1:49:06
And they're giving us debt capacity increase of $3,000,000,000 to pay for it.
1:49:14
But, again, it's $3,000,000,000 this is gonna have to contribute in turn to the MTA capital plan that will you know, that could have gone to housing, other things that taken away from us.