January 2023
State Still Keeping Nine Big Secrets About Vornado/Penn Station Deal
ESD and the Hochul administration continue to hide basic information about the Penn Station redevelopment project. We call on them to be fully transparent with the public and release this critical information.
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January 2023
TIFs: No Such Thing as Free Money
Tax Increment Financing (TIF) schemes divert future tax revenue from special districts to government-backed projects intended to reduce blight or create jobs via redevelopment. We oppose TIFs because they are off-budget and put tax dollars at risk.
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December 2022
Skipping Out: NYS Not Making $375 Million/Year in Payments Promised to MTA
By ending budget scams, Gov. Hochul can immediately restore $375 million in MTA funds from the 18-b program and PMT replacement funds.
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December 2022
PACB Vote Approving Penn Redevelopment Plan Completely Abnormal
Analysis of Newly-FOILed Records Confirms July 2022 Penn Resolution One of Only Two of 1,017 “Applications” Voted on by the PACB NOT about Project Financing
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November 2022
Ridership Down: The MTA Fiscal Cliff Is Real
The MTA faces a fiscal cliff that could obliterate transit service when federal emergency COVID aid runs out and needs billions in new, recurring, state dedicated funding.
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August 2022
Key Sources on Penn Station Redevelopment Plan
Reinvent Albany has compiled a list of key sources on the Penn Station Redevelopment Plan. We will continue to update.
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July 2022
Watchdog Report Uncovers $1.2B Tax Break for Vornado in Opaque Penn Station Financing Scheme
Reinvent Albany published a detailed analysis of NYS’s secretive plan to pay for Penn Station upgrades.
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June 2022
Double Jeopardy: MTA Capital Plan Imperiled by Congestion Plan Delay
Two years in, the MTA has only 7% of the funds budgeted, or $4B out of $55B total.
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August 2021
MTA Needs Congestion Pricing Money Now, Not in 2023
2020-2024 MTA Capital Plan Funding Coming in at Slowest Pace of Last 3 Plans: MTA Has Just $2B of the $55B Budgeted
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June 2020
Investing in the MTA is Investing in America
Analysis of MTA payments outside NYS shows it spent $8B across the country, in 47 of the 50 states from 2011-2018. This in turns created as many as 100,000 jobs. Congress must now step up to fund $3.9B in emergency aid for the MTA.
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September 2019
Analysis Shows Huge Challenge for MTA to Spend $55B 2020-24 Capital Plan
Analysis shows the biggest constraint is the MTA’s ability to spend, not find capital funding. Recommends honest and detailed implementation plan, as well as detailed, itemized lists of projects and changes to prior plans.
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August 2019
Where is the 2020-2024 MTA Capital Plan?
Review of past MTA capital plan processes shows 2019 is one of most secretive since capital plans began in 1982, diverging from transparency norms.
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