Search

The Metropolitan Transportation Authority released a cascade of grim financial assessments on Monday that mean delays in subway station renovations and other major improvements, as well as possible cutbacks in service and increases in fares and tolls. In a series of public meetings of authority board committees, officials said the authority would be forced to cut projects valued at $2.7 billion from its 2005-9 capital spending program, largely because of soaring costs on construction projects already under way. [ABSTRACT FROM PUBLISHER]