Quote:
Originally Posted by BrownTown
I don't know what the regulations are like in NYC so maybe it's just impossible for them to ever get something done quickly, but IMO the biggest problems with all these MTA projects is how LONG they take. Keep in mind that you don't start paying off a project until it's operational, but you are paying interest on the bonds from the moment they are issued. In long projects this can mean that the delays themselves add billions to the cost (in capitalized interest) in addition to being annoying for everyone who wishes the project was done earlier. Having a project run for 10-15 years because you don't have a revenue stream to finish it in 5 years makes the final cost FAR higher. They need to find a way to get this money up front and tighten the schedules up a lot. If the oil industry can build a 15 Billion dollar facility in 3-4 years why does it take the government 10-15 years? I'm sure a lot of it has to do with the regulations in Texas verse New York, but come on, you can't tell me there is any real engineering reason why these projects can't get done far quicker and the interest payments reduced by billions as a result.
|
Presumably the Port Authority would handle the construction of such a project and build out the MTA's portion (except for the 10th ave station) to their spec and turn it over to them when complete. Not that the PA has a particularly good record on this sort of project either. Though it should be much more straightforward since it's all just tunnel building and an above ground terminal station for the 7 at Secaucus (plus a small yard) and bus facility. I still have to believe it would be better to physically combine the projects from a funding perspective even though it increases the overall cost.
I do not have a single pet theory why it's so expensive to build transit in the NYC area other than it's a combination of factors (battling political/regulatory fiefdoms, labor, lack of qualified contractors bidding, recalcitrant partners dragging feet, funding rules, lack of reasonable estimating/oversight) all playing a role.