Billions of dollars worth of repairs to the transit system in the aftermath of Hurricane Sandy have yet to be committed to projects, according to a report released Monday.
The $8 billion for Sandy work that’s waiting to be allocated is $3 billion more than the MTA had anticipated by the end of 2014, according to a city Independent Budget Office study. But the money has to be matched to projects.
“That’s a big portion of the delay” in the MTA finishing bidding for its 2010-2014 capital repair program, said Alan Treffeisen, an IBO budget analyst.
Just $1.6 billion out of $9.7 billion — 16%— of Sandy-related aid had been committed to projects by the start of 2015, according to the report.
Just $1.6 billion out of $9.7 billion — 16%— of Sandy-related aid had been committed to projects by the start of 2015, according to the report. Pictured, Gov. Cuomo at the South Ferry station in 2013.
The MTA has yet to get the full $10.5 billion in Sandy money to rebuild after the devastating 2012 storm wrecked the transit system and shut the subway down for days. There is still $3.6 billion from all funding sources left to be distributed, according to MTA spokesman Adam Lisberg.
“Those Sandy projects which have been funded are progressing rapidly,” he said.