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Real estate makes or breaks MTA budget
A number of factors have brought the MTA to the brink of yet another fare hike, but none has been a wilder rollercoaster ride than the money it gets from real estate.
"Real estate is something of a boom-and-bust business," said William Henderson, executive director of the Permanent Citizens Advisory Committee to the MTA. "You don't want a large proportion of your revenues tied to the cycles...
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