Toll Revenue Generated Within the Congestion Relief Zone on Track to Hit Annual Projections
On February 24th, the Metropolitan Transportation Authority (MTA) released the first of its ongoing monthly reporting of the revenue generated by the tolling system within the Congestion Relief Zone (CRZ). According to the agency’s press release, over the three-week period from Sunday, January 5 to Friday, January 31, a total of $48.66 million in revenue was generated, with a net of $37.5 million. If the pace continues, the program is on track to generate the $500 million net that the MTA initially projected. A breakdown of roadway activity revealed that 22%, or $10.6 million came from taxis and for hire vehicles, 68% from passenger vehicles, and 15% from trucks, buses and motorcycles. Roadway activity within the CRZ at peak hours accounted for 95% of revenue, while expenses such as the operating of the camera infrastructure and customer service, as well as mitigation efforts, amounted to $9.1 million and $2 million respectively. Several projects within the MTA’s 2020-2024 Capital Program will utilize CRZ revenue including the purchase of 44 new dual-mode LIRR locomotives, zero-emission buses, and the Second Avenue Subway extension into East Harlem. Intended to enable the MTA to more immediately finance projects in a new way, a measure approved by the agency’s finance committee that was expected to secure full MTA board approval on Wednesday, February 26 will “give transit officials the ability to secure a mix of bank loans. Decisions to start borrowing against the revenue sooner rather than hold off for at least a year to give potential lenders more confidence comes amid recently initiated litigation in federal court sparked by the Trump Administration’s efforts to halt the congestion pricing program.
Several positive signs have already appeared over the few weeks since launching, supporting the envisioned long-term positive impact that the tolling program can deliver. Recently Crain’s New York cited a shift within the city’s bus schedule that now results in buses arriving at stops ahead of schedule, when prior to the tolling launch, the bus schedule was historically challenged by “notoriously sluggish buses that didn’t arrive on time.” The shift in traffic patterns has prompted the MTA to “redesign some of its bus-stop timetables so that early-arriving buses don’t have to wait to get back ‘on-time’ and riders overall can enjoy speedier commutes.” During January, peak-hour bus speeds for nearly all crosstown buses operating within the CRZ saw bus speeds increase between 1% and 5% compared to January 2024; and although a modest improvement, and data is preliminary, it’s at least trending in the right direction.
Source: https://www.crainsnewyork.com/transportation/new-york-buses-are-moving-faster-posing-new-dilemma-mta