Assemblymember Jim Brennan, chair of the Assembly’s Committee on Corporations, Authorities and Commissions, has asked MTA Interim Executive Director Thomas Prendergast to provide a detailed explanation of the cost overruns and delays of the East Side Access Project identified by the State Comptroller in his report just issued.
Mr. Brennan has requested a timetable and report on information provided to the Board and Board actions as the project’s problems developed.
“We need to understand what has gone wrong with the East Side Access Project. It is a vital and important project, like so many of the mass transit investments,” said Mr. Brennan. “The Comptroller’s report indicates that up to 10% of the MTA’s future debt service, or $300 million will be attributed to cost overruns on East Side Access,” he added.
“The 2015-19 capital plan approval and adoption is nearly upon us and the MTA borrowed $12 billion for the 2009-14 plan, raising debt service enormously and affecting the affordability of transit service. Cost overruns going forward could be disastrous for riders and drivers in terms of affordability of transit service. It is imperative that MTA top management further strengthen capital plan spending and effective oversight to prevent cost overruns in the future,” Mr. Brennan continued.
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