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| Re: Budget Concerns Threaten To Derail Fulton Transit Hub (561611) | |||
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Re: Budget Concerns Threaten To Derail Fulton Transit Hub |
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Posted by Terrapin Station on Wed Jan 30 12:30:01 2008, in response to Re: Budget Concerns Threaten To Derail Fulton Transit Hub, posted by Stephen Bauman on Wed Jan 30 09:42:11 2008. The #7 line extension is funded by the City's borrowing power. That borrowing power could have been used for other projects.What do you mean? The way I understand it, the West Side will only develop if there is a subway line there. Once there is a subway line there and the development happens, then the city will get increased revenues. It's those increased revenues that are being used to pay back the loans used to build the subway line. So without building the subway line, the development doesn't happen, and then money isn't there is the future. So that's why the money has to be used on 7 extension. |
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