The MTA could face a $12 billion gap in funding for improvements and big projects like the Second Avenue subway, says a new comptroller analysis.
Chairman Thomas Prendergast will present the authority’s five-year capital plan in Albany in October. Initial figures project costs of almost $27 billion.
The MTA faces the massive gap based on how much the feds, state and city typically kick in, according to the Thomas DiNapoli report.
If Albany and the feds don’t step up, the authority will have to pass along the costs to riders, borrow money or scale back on improvements — like bringing the LIRR to Grand Central and modernizing a signal system that dates back to the 1930s.
“The MTA has to find a way to finance improvements without putting the financial burden on riders,” said DiNapoli. The authority, which says the long-term investment is key to reliability and storm-protection, vowed to work with officials to find the resources.