It looks like the MTA will soon control even more of our public transportation systems.
The MTA Board's Finance Committee has granted approval for the transit authority to purchase Grand Central Terminal and the Metro North Railroad's Harlem and Hudson Lines for $35 million.
The properties are currently owned by the private holding company, Midtown Trackage Ventures, and Metro-North had been paying an annual rent of 2-point-4 million dollars. But as part of a lease they signed back in 1994, the MTA would have the option to purchase the properties in 2019.
Approval by the MTA's full board is still required for the transaction to move forward. That is expected to happen Thursday.