rockefeller

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

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