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Tim Stenovec

๐Ÿ‘ค Speaker
882 total appearances

Appearances Over Time

Podcast Appearances

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

I'm wondering, is there a set area within the MTA that that revenue goes toward?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Because the base fare for a subway in New York City, it's expected to increase to $3 in January.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

How does that work?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Because I heard of a friend who was on a bus and someone had come around and scanned their phone to see if they had paid the fare.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Is that how it works?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Explain to us.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

What about mitigating climate issues that affect particularly the subway stations?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

You go online, you see videos of flooding in stations.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Water in the subway station.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Do you guys have, at least as part of the upcoming capital plan, a plan in place to update the infrastructure?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Sure.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

We have to ask about the second, second Avenue subway expansion as well.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Just walk us through some of the plans for, and the timeline here, because this has been something that's been in the work, something that any New Yorker who's lived in New York for the last four, how many years, 40 decades, 50 years.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Do you have a timeline or an expected timeline?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

I imagine you get a lot of people who hear these numbers, congestion pricing is on track to raise $500 million.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

They say, wow, that sounds like a lot of money.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Right.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Why are the subways still the way that they are?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Delays, crime, uncleanliness.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Help us just understand, I know that you said that a lot of those fares go towards paying workers, but a number like this, a number like 500 million, what does it mean in the context for the broader MTA organization?