Declining real estate tax revenue due to fewer sales is partly to blame for the MTA's colossal budget woes, and the situation is only getting worse. The latest MTA budget shortfall projection, the Observer's Eliot Brown reports, is $621 million, half of which is caused by lower-than-expected real estate transfer taxes. So bring on the cuts! Hey, what about that snazzy new 96th Street subway station? Perfect. Yesterday, amNY?which ran the above station rendering we had yet to see?reported that the MTA has trimmed $26 million off the tab for the renovation of the Broadway station. Changes include a smaller underground platform and the removal of a new escalator and one of three elevators from the original plan. The MTA also announced they expect the project to wrap up 20 months early, which in MTA time means it will probably be finished three years late, but still, nice effort!
· The Sugar Daddy Melts [NYO]
· MTA shaves cost, features from 96th Street station rehab [Urbanite]
· 96th Street Station coverage [Curbed]