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July 26, 2007
MTA Gets Set to Raise Fares
The Villiage Voice
By Michael Clancy
When it comes to subway and bus fare increases, it isn't looking so much as a question of "if" but questions of "how much" and "when." Facing looming budget deficits, MTA executive director Eliot G. Sander said on Wednesday that the agency would seek to increase revenues from trains and buses, commuter trains, and bridge and tunnel tolls by 6.5 percent.
...
Not that an extra $100 million would solve the problem, but how's the MTA decision to let Bruce Ratner, the developer of the Atlantic Yards, have the Vanderbilt Rail Yards for $100 million looking these days? The MTA's own appraisal valued the land at $214 million—riders aren't get that discount.
NoLandGrab: We couldn't have said it better.
Here's some other local coverage about the MTA fare hike, none of which mention the fact that the MTA "negotiated exclusively" with Ratner to salvage his lowball bid, which was still the lowest bid when the deal was sealed:
NY Daily News, Look out for Regular Joes
Columnist Michael Daly explains:
If Eliot Mess [Spitzer] wants to make amends for smearing the Senate majority leader for using state helicopters, he could step in and devise a way to stave off a subway fare hike.
NoLandGrab: He could also regain some of his reformer cred by getting serious about Atlantic Yards.
The NY Times, Despite Surplus of $1 Billion, M.T.A. Says Increases Loom
MetroNY, Farebox hit
MetroNY, Striking a fiscal balance
From an interview with MTA chief Elliot Sander:
How much influence can riders expect to have at the hearings?
I previously served as a member of the Taxi & Limousine Commission. We heard input through the hearings process, and we significantly changed what we did when we increased the taxi fare. So I can point to specific examples where I have acted differently in response to public hearings. We also look forward to comments on the Web site — the plan is on the Web site (www.mta.info). When you look at things like the passenger report card that we put out, we’re trying to demonstrate a track record that we do listen. Sometimes we’re able to implement changes, sometimes not.
NoLandGrab: Atlantic Yards critics did not find hearings to be very productive or fruitful, especially when decisions are made behind closed doors and the MTA negotiated exclusively with Ratner.
amNY, MTA proposes fare hikes
While the MTA has been riding a real estate boom, which yielded a surplus of about $940 million last year, the agency predicts a deficit next year of $965 million, growing to $2.1 billion in 2011 -- if fares and tolls do not increase.
Posted by lumi at July 26, 2007 7:32 AM