NYC Ferry boats are slower than trains, burn large amounts of polluting fuel and transport fewer riders than the average subway.
Bill de Blasio’s run for the 2020 Democratic nomination for president may have collapsed soon after it was launched, but he has emerged from the wreckage to announce a more modest goal: running for a seat in the House of Representatives. Meanwhile, we’ve received news of another kind of wreckage from de Blasio’s term as mayor.
According to a recent report issued by City Comptroller Brad Lander, the city’s Empire Development Corporation massively understated the cost of a ferry network program that was one of de Blasio’s major transit initiatives. The report found that the EDC, which financed the operation, had understated the cost of the program by almost a quarter of a billion dollars from its inception in July 2015 to the end of last year, spending $758 million in this time period but only reporting $534 million in expenses.
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Connor Harris is a fellow at the Manhattan Institute. Follow him on Twitter here.
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