After budget cuts, construction setbacks, and pretty much every other bureaucratic problem you could think of, it looks like there's some good news for the Second Avenue Subway: According to the New York Daily News, "a source" has revealed that the state's 2016-2017 budget will include $1 billion allocated for the transit project, bringing the total amount earmarked for the new subway line to more than $1.5 billion.
This comes after the MTA approved a capital plan in October that cut the Second Avenue project's budget by two-thirds, from $1.5 billion to $535 billion. Though work has progressed on the new line (with the MTA recently starting the process of finding contractors for phase two of the capital project), there have been questions over how things would get done with the slashed budget.
According to the Daily News, the $1 billion in funding would be put towards the second phase of the project, which will involve laying tracks between 96th and 125th streets, as well as building three new stations. But per the report:
It was unclear as of Thursday whether the $1.5 billion for the project in the new budget will be cash, borrowed, or a combination of both. A source said the funding will be spread out over several years.
So that's something to keep in mind before getting too excited.
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