How Are
Projects Funded?
Among the funding sources
for transportation projects is federal support provided through
the Transportation Equity Act of the 21st Century
(TEA-21) for infrastructure renewal and network expansion. State
and local resources also support transportation system projects
in the NYMTC region. Local funds are provided by Metropolitan
Transportation Authority, New York State Thruway Authority and
Port Authority of New York/New Jersey as well as local counties
and municipalities. Also, resources other than federal, state
and local have been used to fund transportation projects in the
past and can be expected to do so in the future. An example is
the use of bridge and tunnel toll revenue to support the sale of
bonds for financing transportation projects.
The federal government
funds only those projects that are identified on the region’s
five-year Transportation
Improvement Program (TIP) or in the 20-year Regional
Transportation Plan (RTP). The TIP is consistent with the Plan and is
fiscally constrained with reasonable estimates of project costs
balanced against anticipated funding. The TIP is a multimodal
program of bridge, bikeway, pedestrian, transit, highway, safety and demand management projects.
NYMTC’s adoption of
the TIP assures Federal officials that NYMTC’s members have
agreed on priorities for the region. Additionally, NYMTC issues
a Unified Planning Work
Program (UPWP) which lists all of the studies and
transportation and air quality planning activities that will be
undertaken by the NYMTC staff, member agencies and regional
transportation planning agencies in the coming year.
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