State transportation helps MTA with Sandy matching funds

The New York State Department of Transportation is helping the MTA cover the matching state funds needed in order to collect $1 billion in federal superstorm Sandy recovery aid.

Gov. Andrew M. Cuomo Friday announced the interagency deal, which he said will save transit riders and taxpayers millions.

"This is another example of effective collaboration within New York State government to save tax dollars and better serve New Yorkers," Cuomo said in a statement.

The Federal Transit Administration last month awarded the Metropolitan Transportation Authority $1 billion in reimbursement for recovery and rebuilding costs from the Oct. 29 storm. However, the funding required a 10 percent local match.

The MTA asked to use $111 million in DOT transportation development credits -- a financing tool -- to cover the local match, and the department agreed.

"We are pleased to be able to assist our sister agency with this funding, further speeding the ongoing recovery from superstorm Sandy," DOT Commissioner Joan McDonald said.

Transportation departments throughout the United States earn the credits through toll revenue.

SEE PHOTOSAerial views of Sandy damage

Acting MTA chairman Fernando Ferrer said the credits "will make it easier for the MTA to fund our very significant work to restore our transit system from superstorm Sandy's devastation."

The MTA has said it suffered $4.75 billion in damages from the storm, which flooded train tunnels, washed away tracks and destroyed delicate electrical components.

The Long Island Rail Road is looking to recover $267 million in damages, including $80 million for repairs inside the East River tunnels. Twelve feet of Sandy's corrosive floodwaters filled the tunnels, and it took workers six weeks to make repairs.