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Yesterday, New York’s Metropolitan Transportation Authority (MTA) proposed a $29.5 billion 2008-2013 capital plan that calls for continuing system maintenance and improvement programs, completing expansion projects and beginning additional capacity projects.

MTA’s current capital plan doesn’t expire until 2009, but the state’s congestion pricing legislation mandated the agency submit an accelerated plan by March’s end.

The plan calls for purchasing 590 subway and 440 commuter-rail cars; rehabilitating 44 subway stations; upgrading shops, yards and signals system-wide; and upgrading and adding security. In addition, the program includes funds to advance or complete projects, such as Long Island Rail Road’s third track and East Side Access, New York City Transit’s Second Avenue Subway, Fulton Street Transit Center and South Ferry subway station, and Metro-North’s expansion to the Bronx and Penn Station.  

In addition, the plan proposes to fund Communications-Based Train Control on NYCT’s Flushing and Queens Boulevard lines, Jamaica Station improvements and capacity planning studies.

“This proposed capital program will ensure that our transportation network is both maintained and expanded to support the region’s economic growth,” said MTA Executive Director and Chief Executive Officer Elliot Sander in a prepared statement.

The program would be funded through federal and city dollars, asset sales, congestion pricing and new bonds, and carry-over funds from the 2005-2009 capital program. The MTA board will consider the plan at its March meeting.