June 5, 2013
Temporary Closures of Two Subway Tubes Not Expected to Have a Material Impact on MTA Finances
The Metropolitan Transportation Authority (MTA) today announced that it expects no material financial impact to result from the temporary closure of the New York City Subway’s Montague Street Tube, which carries the train under the East River, and Greenpoint Tube, which carries the train under Newtown Creek.
The tunnels will be closed so workers can renew electrical and infrastructure components damaged by seawater flooding caused by Superstorm Sandy. The Montague Street Tunnel is expected to be closed for 14 months from August 2013 to October 2014. The Greenpoint Tube is expected to be closed for 12 weekends starting July 6, and for five full weeks in 2014.
The MTA’s current analysis projects that most subway customers affected by the tunnel closures will continue to use the subway system, transferring to alternate subway lines to complete their trips. The tunnel closure impact on overall ridership is expected to be negligible. No net losses are projected from fare revenue collection.
The cost of the work, including any incremental cost of providing service, will be charged to the previously announced tunnel reconstruction projects. These projects were included in the MTA’s Capital Plan Amendment adopted by the MTA Board in February, which provides funding for Superstorm Sandy restoration work.