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December 23, 2004
Groups call for MTA to get top dollar for Atlantic Railyards
The [MTA] will have to provide service for these new riders and pay for relocating the yard; it should not be made to sell its real estate for anything but a full, fair price.
Recent Newsday and New York Times stories noted how the MTA, in its time of fiscal crisis, was looking to its real estate holdings to make extra revenue. The Atlantic yard site is one of these valuable parcels of real estate that could provide the agency with hundreds of millions of dollars in new revenue. This revenue is desperately needed to cover $16 billion in unfunded needs in the MTA’s 2005-2009 capital program, and to pay for service improvements in Brooklyn, like a pedestrian tunnel to connect the Jay Street-Borough Hall and Lawrence Street subway stations. Transit riders should not be forced to pay higher fares as private endeavors benefit from large government subsidies.
Posted by lumi at December 23, 2004 7:55 AM