As proposed, the governor’s value-capture plan would apply only to transit projects costing more than $100 million. It could not be used to pay for already completed projects, like the $4.4 billion segment of the Second Avenue subway. Until the Second Avenue subway opened, residents on the eastern edge of the neighborhood had to trudge blocks to squeeze onto the Nos. In New York, Mr. Wright, of the Regional Plan Association, called the Second Avenue subway “a lost opportunity” in terms of value capture. But Mr. Wright cautioned that value capture in already developed neighborhoods would be more modest.

Source: New York Times January 29, 2018 07:52 UTC