New York does not have a long-term process for capital projects, which has hindered the state’s ability to make capital investments, a consultant’s report today found, Gannett’s Haley Viccaro reports.
The report, by Navigant Capital Advisors, the Chicago-based company that also did a report on the health of the state Thruway Authority, was released by the New York Works Task Force. The group met in Albany to discuss its ongoing review of the state’s capital program.
It’s a major undertaking: state agencies plan to spend over $40 billion in capital financing through the year 2017, the report found. In 2013 alone, the state expects to spend about $21 billion: $9.7 billion for 24 agencies and $11.7 billion for 22 authorities, on capital expenditures.
The task force, which was formed in May by Gov. Andrew Cuomo, is working with state officials to develop an infrastructure plan to allocate capital investments between the public and private sectors
Agencies and authorities must submit capital plan templates this month to be analyzed by the Task Force. The move comes in advance of the 2013-14 state budget, which Cuomo will unveil in January.
Because of legislation passed last year, the state Department of Transportation has already started five design-building contracts to repair or replace 34 bridges.
The Department of Transportation presented a two-year capital plan for 2014 and 2015 to rebuild infrastructure and retain jobs. Projects include the Kosciuszko Bridge in Brooklyn and the Fuller Road improvements in Albany.