NYC congestion pricing revenue jumped up in February, MTA says
The MTA on Monday released its latest data on New York City congestion pricing and talked about a new pilot program aimed at making adjustments to bus schedules in Manhattan.
It comes as the agency says it has seen improvements in travel times due to the tolling program.
- Read more: New York Gov. Kathy Hochul touts congestion pricing success after feds extend deadline to end toll
Revenue increases in February
The MTA held its March committee meetings and revealed that the congestion pricing tolling program is showing signs of continued success.
It reports $51.9 million was collected in February, $3.3 million more than in January.
When it comes to the type of vehicles that entered the congestion relief zone, 66% were passenger vehicles, 24% were taxis or for-hire vehicles, 9% were trucks, and 1% were buses and motorcycles.
In addition, the Finance Committee announced Monday that the MTA is still on track to meet its year-end goal of $500 million, adding $78 million of that money will eventually be transferred to the so-called "lock box" for use during capital projects.
Bus riders have been big winners so far, MTA says
Systemwide, bus speeds are up this year. In fact, the MTA has been evaluating travel times on seven routes to see if there is a need to adjust schedules due to the reduced congestion in the area. The pilot program has been in effect since mid-February.
"Four percent speed improvements and a reduction in bus bunching. Some of the largest gains have been on the M42, M50 and Q32," New York City Transit President Demetrius Crichlow said. "We have been evaluating whether removing scheduled time points will further take advantage of the reduced congestion."
The latest on the Second Avenue Subway
Commuters in East Harlem could be closer to gaining access to the Second Avenue Subway. On Monday, the MTA announced a big step forward in the project.
CBS News New York has learned the transit agency is set to take a vote aimed at awarding a $186 million contract for a consultant to oversee the work of the extension of the subway.
Board members say it's a joint venture between two of some of the city's biggest construction management firms. A source says after this step the transit agency will then have to draft up additional contracts for digging underground and building the new stations.
This is just the latest move the MTA is making to begin work on bringing the Q train to 125th Street in East Harlem. Jamie Torres-Springer, the president of MTA construction and development, offered some insight into what makes this contract different from some of the others associated with this project.
"This contract includes a performance evaluation program, in which there will be additional payments for excellent performance, and a reduction in fee for unsatisfactory performance. There will be incentive payments for early completion of key milestones, including reaching revenue service -- the most important of milestones, and there will be liquidated damages for each day that the milestones are delivered late," Torres-Springer said.
Keep in mind, the Second Avenue Subway is funded by congestion pricing. The MTA predicts the work will cost it around $7.7 billion. The board is expected to take a vote on the matter during Wednesday's meeting.
