EDITORIAL: Finding funds for East Side tunnel is critical

As the Metropolitan Transportation Authority board meets today about upcoming fare hikes, it should also keep an eye on what's coming down the track: potential budget overruns and construction delays that could jeopardize East Side Access.

A federal transit official recently described the MTA's progress on two mega-projects as grim. Most worrisome for Long Islanders is that the tunnel connecting the Long Island Rail Road to Grand Central Terminal may be $800 million over budget and 18 months behind schedule. The MTA says it's doing what it can to compress the timeline and keep costs down. And it's sticking with its own current estimates: $7.3 billion and a September 2016 opening.The Federal Transit Authority rang a similar alarm for the MTA's Second Avenue subway project.

But beyond missed construction deadlines and overblown costs, Washington forgot an even bigger threat: The MTA has no plan for how to pay for these projects past 2011. The agency's 5-year capital program is funded for just the first two years, and a $10-billion gap looms after that.

East Side Access is crucial. It will improve property values and quality of life by reducing travel time to and from Manhattan. Without it, Long Islanders will continue to pay more for less - especially after being hit with the MTA payroll tax.

The MTA must keep the tunnel project on the rails and guide it to completion. hN