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How to Upgrade NY’s Infrastructure: Value Capture Can Put Money Where It’s Needed

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How to Upgrade NY’s Infrastructure: Value Capture Can Put Money Where It’s Needed

New York Daily News July 13, 2021
Urban PolicyInfrastructure & Transportation

“If the federal government wants to do stupid, they can do stupid,” declared Gov. Cuomo last month, in a rebuff of the White House that was reminiscent of the Trump years. At issue was the Gateway Program, an $11.6 billion project to repair and upgrade the train tunnels under the Hudson, which recently received federal approval and high-profile endorsements from Transportation Secretary Pete Buttigieg and Sen. Chuck Schumer.

Cuomo has questioned the cost efficiency of the plan to replace the tracks entirely. He says there’s a more efficient way to fix the tunnels — fixing them while they remain in use, much as the L train was fixed, rather than boring brand-new tunnels before fixing the old ones. He cited “other pressing infrastructure needs” that require state funding, including “East Side Access, Second Ave. subway, congestion pricing and infrastructure in our upstate cities.”

Continue reading the entire piece here at the New York Daily News

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Arpit Gupta is an adjunct fellow at the Manhattan Institute and an assistant professor of finance at the NYU Stern School of Business. You can follow him on Twitter here.

Photo by william87/iStock

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