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December 16, 2009
Russianoff on MTA land sales: "they decided that it was a higher value to help the mayor and the governor"
Atlantic Yards Report
From today's Brian Lehrer Show, in a segment on MTA cuts, Gene Russianoff, staff attorney at NYPIRG Straphangers campaign, at about 11:50, described how the Metropolitan Transportation Authority can use capital funds funds to stave off service cuts. (The Regional Plan Association disagrees.)
"The MTA is pretty resistant to this idea. They argue that it will send them down a slippery slope of cutting their capital program. But they're already on that slope. For example, they sold Atlantic Yards"--actually, the Vanderbilt Yard--"and Hudson Yards to developers for way less than their full market value, and that was a capital asset that helped pay for fixing things, and they decided that it was a higher value to help the mayor and the governor."
Posted by eric at December 16, 2009 12:06 AM