Friday, April 18, 2014

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State DOT To Help Free Up MTA Sandy Funds

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TWC News: State DOT To Help Free Up MTA Sandy Funds
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A deal between two state agencies is freeing up $1 billion in Hurricane Sandy relief funds for the Metropolitan Transportation Authority.

The money is part of a federal relief package earmarked for mass transit infrastructure, but there were strings attached.

The funds were contingent on the MTA receiving a 10 percent local matching grant.

To take care of that, the New York State Department of Transportation is giving the MTA an $111 million credit.

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