The Metropolitan Transportation Authority has approved what it hopes will become the nation's first congestion pricing system as early as the middle of June for the streets below 60th Street in Manhattan.
The board of the MTA, which runs the subways and now will administer the new electronically monitored congestion tolls, voted 11-1 on March 27 to authorize the pricing structure.
The plan the board approved will charge most cars $15 to enter the area of Manhattan south of 60th Street during peak times. The MTA says the tolls, to be levied by electronic scanners hung above the traffic lights on key east-west arteries, will reduce traffic and boost the use of mass transit.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
