Written by Carolina Worrell, Senior Editor
The New York Metropolitan Transportation Authority (MTA) on March 24 announced that from Feb. 1 through Feb. 28, tolls from the Congestion Relief Zone (CRZ) generated $51.9 million in revenue with a net after expenses of $40.4 million. This, the agency says, “keeps the program on track to provide the $500 million that was initially projected.” The MTA will continue to report revenues from this program monthly.
According to the MTA, $51.9 million was collected from the tolling program, 24% of which comes from taxis and for hire vehicles ($12.3 million), 66% comes from passenger vehicles, 9% from trucks, and 1% from buses and motorcycles. Ninety-five percent of revenue was gathered during peak tolling hours. Expenses from the program, including operating camera infrastructure and customer service, amounted to $9.5 million. Combined with another $2 million for mitigation efforts, expenses totaled $11.5 million. This resulted in a net surplus of $40.4 million.
“Once again, the extensive studies done are proving to be reliable as we close the second month of the program with revenue in line with projections,” said MTA Co-Chief Financial Officer Jai Patel. “The program continues to reduce traffic while generating projected funds for critical transit projects.”…