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New York’s first in the nation congestion pricing tolls will launch on June 30, two sources familiar with the schedule told Crain’s Friday.
The long-anticipated launch date marks when most drivers will be charged a $15 daytime toll to enter Manhattan below 60th Street, which is expected to generate billions of dollars for the Metropolitan Transportation Authority to improve the region’s mass transit and reduce traffic.
Under state law approved in 2019, congestion pricing is designed to collect $1 billion in annual tolls that the MTA will bond to $15 billion toward infrastructure upgrades for the city’s subway, buses and commuter rails.
The $550 million effort by MTA contractor TransCore to install cameras along the perimeter of the congestion pricing zone is all but complete. However, lawsuits filed by New Jersey officials and other detractors hoping to stall or defeat the program are pending.
This is a developing story. Check back for updates.
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Caroline Spivack , 2024-04-26 18:40:57
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