Financing New York’s Regional Transportation System
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Transcript of Financing New York’s Regional Transportation System
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Financing New York’s Regional Transportation System
Robert D. YaroPresident
Regional Plan Association
Greater Vancouver Livability Forum
June 1, 2009Vancouver, British Columbia
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•Founded 1929
•Covers 31-county region
•Private, independent not-for-profit
• Professional staff of urban planners, economists, architects, transportation planners
•Distinguished board of directors
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New York Metropolitan Transportation Authority (MTA)
Almost $70 billion spent to restore the system since the 1980s
Over 9 million rides a day
RPA’s 3rd Plan proposed major system expansion now underway, including 4 “megaprojects,” to meet the region’s mobility needs through 2040.
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MTA Revenues -- System Wide
9%
42%
13%5%
31%
State and Local SubsidiesFarebox RevenueToll RevenuesOtherDedicated Taxes
NYC Transit farebox operating ratio: 54% -- highest in North America
Several dedicated taxes are highly cyclical.
Decisions to fund capital plans from farebox in 90s dramatically increased debt service
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PlaNYC 2030: New York City’s
Plan forA Greener, Greater New York, containing 127 separate initiatives, including Congestion Pricing, to promote the city’s long term sustainability.
PlaNYC – New York’s Sustainability Plan launched Earth Day 2007
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• Campaign for NY’s Future – a coalition of 150 business, civic and community groups to support adoption of PlaNYC Recommendations– Rallies and Events– Environmental
Justice Town Hall Meetings
– Community Engagement and organizing
– Advocacy
Campaign to Advocate for Plan’s Recommendations
Nos Quedamos will be hosting a
Bronx Meeting on PlaNYC 2030
Nos Quedamos will be hosting a
Bronx Meeting on PlaNYC 2030
Location: 754 Melrose Avenue Bronx, New York 10451Date: 10/25/07Time: 5:00 pm - 7:00pmContact: Anna Vincenty
718-585-2323
Location: 754 Melrose Avenue Bronx, New York 10451Date: 10/25/07Time: 5:00 pm - 7:00pmContact: Anna Vincenty
718-585-2323
“PlanNYC 2030: What it Means for the Bronx”
Panelists on Clean Air, Congestion Pricing, Parks, Housing, Health, Transit, more
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Lessons Learned: Congestion Pricing
•Didn’t do the preparation needed
•Rushed campaign from April launch to June end of legislative session.
•Personal politics and Albany.
•“Where’s the crisis?”
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Greening Mass Transit & Metro Regions: A Synopsis of the Final Report of the Blue Ribbon Commission on Sustainability and the MTA
January 2009
MTA Sustainability Plan
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Mass Transit
OtherTransportation
Total Regional GHG Emissions
Mass Transit
OtherTransportation
More TransitLess Transit
Source: T. Papandreou, LA Metro
Transit’s Role in Carbon Avoidance
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•Capture significant share of new regional VMT by 2030
•Promote 2/3 of new development near transit stations
•Solve the “Last Mile” problem
Smart Growth/TODSmart Growth & Transit Oriented Development
17Source: Journal of Urban Planning & Development, March
2006
8,637
GHG per Person
3,341
Transportation
Building Operations
Materials
Kg CO2
equivalents/year
High DensityTransit-Oriented
Low DensityAuto-Oriented
GHGs per person
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2008: Ravitch Commission Plan
L-R: NY Governor David Patterson, Richard Ravitch, NYC Mayor Michael Bloomberg
Fares – Increase fares by Regional Consumer Price Index bi-annually.
Regional Mobility Tax -- Excise tax of .33 cents for every $100 dollars … imposed on employers
Bridge Tolls – for the free East River and Harlem River Bridges to match existing tolled MTA facilities
Raises $2.1 billion annually
Regional Mass Transit ImprovementsAdditional bus service improvements put in place before tolls BRT network should be expanded and implemented at a faster pace
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May 2009: Financing Secured
Fares – Subway fares up to $2.25 from $2.00; Commuter rail tickets and tolls up 10%
Regional Mobility Tax -- Excise tax of .33 cents for every $100 dollars … imposed on employers
Fees and Surcharges (apply only in MTA Region) -- 50¢ surcharge on taxi cab fares
-- $25 surcharge on vehicle registration-- $2 annual fee on drivers license -- 5% tax on car rentals
Raises $2.2 billion annuallyNo New Bridge Tolls, but large budget gap remains
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Final Thoughts
•No permanent fixes; financing transit is a reoccurring challenge.
•New York goes farther than most regions to cross-subsidize between highways and transit
•A growing region must grow its transit system
•Must find a way to capture the value created by transit to help finance the system.
Auto-free Broadway unveiled May 25, 2009 in Times Square