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NY Announces $275B Infrastructure Plan

Tuesday, January 28, 2020

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Last week, New York Gov. Andrew Cuomo announced the state’s fiscal year 2021 budget, adding $175 billion to the five-year $100 billion plan introduced in 2016, upping the total for transportation infrastructure investments and other state-funded construction projects to $275 billion.

According to Cuomo, the infrastructure plan for funding is the largest in U.S. history.

The Plan

According to the budget report, Cuomo declared in May 2018 that he intended to invest $150 billion in New York’s infrastructure between fiscal years 2020 and 2024. However, due to the implementation of new Metropolitan Transportation Authority and Department of Transportation plans, that number has since been increased to encompass a $175 billion investment.

The plan intends to use the funding for transportation and mass transit systems, affordable housing, economic and community development, schools, environmental and park facilities, and energy efficiency upgrades. When added to the previous $100 billion investment plan adopted prior to 2020, New York plans to invest a total $175 billion on various projects to upgrade and preserve the state’s infrastructure.

franckreporter

Last week, New York Gov. Andrew Cuomo announced the state’s fiscal year 2021 budget, adding $175 billion to the five-year $100 billion plan introduced in 2016, upping the total for transportation infrastructure investments and other state-funded construction projects to $275 billion.

The $175 billion infrastructure plan includes:

  • $87 billion for transportation, including mass transit, railroads, airports, highways, bridges, and tunnels across the state;
  • $35 billion for improving environmental facilities and parks, and the development of green energy;
  • $11 billion for economic and community development;
  • $9 billion to further the State's investment in the construction of high-quality, affordable housing for the people of New York; and
  • $19 billion to help school districts build new and better school buildings.

However, Cuomo also intends to invest in major infrastructure projects in fiscal year 2021, and plans to continue or add support to the following projects: MTA Capital Plan ($51.5 billion capital plan investment); Transportation Capital Plan ($11.9 billion investment); Affordable and Homeless Housing Capital Plan ($20 billion investment); Thruway All Electronic Tolling ($355 million investment); Gateway Tunnel Project ($30 billion); Transformed John F. Kennedy Airport ($13 billion); A New LaGuardia Airport; Empire Station; New NY Broadband; Parks Capital; Clean Water Infrastructure; Renewable Energy; and the Lake Ontario Resiliency and Economic Development Initiative.

Cuomo also declared that he would be focusing on new projects that build, rebuild or revitalize capital assets across New York. Of the programs, Cuomo has revealed the Restore Mother Nature Bond Act—which will involve significant habitat restoration and flood reduction, funded in part by a $3 billion Environmental Bond Act, to help reduce flood risk and revitalize critical fish and wildlife habitats.

Additionally, other new projects include reimaging the Erie Canal and Empire State Trail to improve nearby communities and promote tourism; Olympic Regional Development Authority Capital Improvements which plan to restore the Olympic facilities in and around Lake Placid; and other various economic development projects.

Both the 2016-based $100 billion infrastructure plan and the recently announced $175 billion infrastructure plan are to be funded from various state, federal, public authorities, local governments and private enterprises.

   

Tagged categories: Funding; Government; Infrastructure; Infrastructure; NA; North America; Ongoing projects; Program/Project Management; Project Management; Transportation; Upcoming projects

Comment from Andrew Piedl, (2/3/2020, 5:05 PM)

So -why can't our fed gov do something like this?


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