There continues to be good news from Washington concerning real financial support for the Metropolitan Transportation Authority.
The MTA receives over $1.3 billion annually year from the Federal Transit Administration (FTA). Most federal transportation grants require a 20 percent hard-cash local share.
FTA accepted toll credits instead of hard cash for the local share. This saved the MTA over $1 billion in the previous 2010-2014 five-year capital program. The same continues under the current 2015-2019 five-year capital program.
The FTA funding helps pays for a significant portion of the MTA's capital program. This includes $28 million for buses and $647 million for repairs. And there are other opportunities for more in federal grants.
The MTA can also take advantage of FTA pre-award authority, which provides an opportunity to start projects months earlier and incur costs for reimbursement at a later date.