penn-central

Rockefeller proposes state take over Harlem and Hudson lines

• Rockefeller also announced modernization plans, pending legislative approval of the bond authority
  • not sure what bond authority is here
• Purchase of 80 new Penn Central cars finances with $21mil in bonds through New York State Commuter Car Program
  • NYS CCP administered by Port Authority, which was then still called the Port of New York Authority
  • Port Authority would buy cars and lease them to the state
• Rest of modernization financed by $44mil in bonds from State Transportation Bond Fund
• Ronan said Penn Central would manage the line under MTA's direction, and MTA would pay them for maintenance and oprating costs, which would be paid out of operating revenue
• Plans for take-over started with state transit master plan in 1968
• Source: Bill Kovach, "STATE TO ACQUIRE 2 COMMUTER RUNS," The New York Times, April 17, 1970. link
• Tags: metro-north penn-central rockefeller ronan