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Keyword: newyorkmta

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  • For Sandy Fix, MTA Could Borrow Billions (NYC)

    11/28/2012 6:11:13 PM PST · by Olog-hai · 8 replies
    WSJ ^ | November 28, 2012, 1:58 PM ET | Ted Mann
    The Metropolitan Transportation Authority is preparing borrow up to $4.8 billion over the next three years to finance post-storm rebuilding, with the expectation that most loans will be repaid by insurance and the federal government. But the MTA’s top financial official warned Wednesday that the transit agency might ultimately be on the hook for as much as $950 million of the total cost of reconstruction—potentially adding tens of millions to its annual debt-service load. …