On a day when the MTA announced that its budget shortfall may now surpass $400 million as last year’s payroll tax is bringing in even less revenue than expected, Mayor Michael Bloomberg began his day underground. He and MTA chief Jay Walder were touring a new station underway at 34th Street and 11th Avenue, the terminus of the underway 7-Train extension. At least during boom times, the project was seen as a boon to residential development on the Far West Side. Now, with construction limited and the MTA in desperate need of money, transit advocates like the Straphanger’s Campaign and the City Council continue to call for tapping capital funds—namely stimulus set-asides—to help cover the gap. And if two recent projects are any indication, maybe that’s not a bad idea. Read More