NYC to contribute $2.5 billion to MTA's capital program

New York City has increased the amount of money it plans to invest in the Metropolitan Transportation Authority’s $26.1 billion capital program. As part of an agreement reached last weekend between New York City Mayor Bill de Blasio, New York Gov. Andrew Cuomo and MTA Chairman Thomas Prendergast, the city will now contribute $2.5 billion toward the plan — up from the city's original offer of $657 million.

For its part, the state will contribute $8.3 billion toward the program.

The largest investment in MTA infrastructure in history, the capital plan outlines the next five years' worth of investments for renewing, enhancing and expanding the agency's network, MTA officials said in a news release.

"Our transit system is the backbone of New York City’s, and our entire region’s, economy. That is why we’re making an historic investment – the city’s largest ever general capital contribution – while ensuring that NYC dollars stay in NYC transit, and giving NYC riders and taxpayers a stronger voice," de Blasio said. "I look forward to continuing to partner with the governor and the MTA to ensure a transit system that reliably, effectively, and safely serves all of its riders."

Projects funded by New York City's $2.5 billion will be prioritized based on input from the city representatives, according to the MTA.

Last month, Prendergast demanded greater funding from the city for the capital program following the derailment of a New York City Transit subway train in Brooklyn.