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In the beginning of 1955, it was reported that the NYCTA's surface operations cost seven million dollars more to operate annually than it collected in revenue from the fare box. By privatizing the surface operations, and as a result focusing on subways, the NYCTA could then meet its operating costs.
The outsourcing of subway operations to the Port Authority of New York and New Jersey was favored at one point. On June 15, 1953, the NYCTA was founded with the aim of ensuring a cost-covering and efficient operation in the subways.
Below are the fares charged for single boardings on the transit lines and predecessors of the New York City Transit Authority (NYCTA). Different combinations of transfer privileges and the abolition of double fares to the Rockaways have altered these fares from time to time.
The predicted cost of $3.5 billion per mile ($2.2 billion per kilometer) was attributed to various unnecessary expenditures, including hiring additional workers for little reason, as well as uncompetitive bidding processes.
The New York City Transit Authority (NYCTA), a public authority presided by New York City, was created in 1953 to take over subway, bus, and streetcar operations from the city, and placed under control of the state-level Metropolitan Transportation Authority in 1968. Graffiti became a notable symbol of declining service during the 1970s.
This change was made as part of the last round of cuts in subway service announced in January 1977 to reduce annual operating costs by $30 million. Changes were also made in A, AA, B and N service. The NYCTA said that the cuts only duplicated other night service, and for most, would increase travel by a few minutes.
A new low-level subway through Manhattan would complete the loop. Construction costs of this preliminary project are estimated at $154,000,000, with $40,000,000 additional for equipment. The cost of power facilities is not included in this estimate.
This change increased operating costs by $245,000. The midday M (between 9:30 a.m. and 3:30 p.m.) was temporarily truncated to Chambers Street on April 30, 1995, from Ninth Avenue in Brooklyn due to the closure of the Manhattan Bridge during weekday middays for structural repairs.
The New York City Subway is a large rapid transit system and has a large fleet of electric multiple unit rolling stock. As of November 2016, the New York City Subway has 6418 cars on the roster. The system maintains two separate fleets of passenger cars: one for the A Division (numbered) routes, the other for the B Division (lettered) routes.
Reasons for high costs On November 18, 2017, The New York Times published an investigation into the problems underlying the MTA. It found that politicians from both the Democratic and Republican parties, at the mayoral and gubernatorial levels, had gradually removed $1.5 billion of MTA funding.