Transportation
NY’s MTA Seeks Financial Adviser for Brooklyn-to-Queens Rail
Commuters stand on the platform at a subway station in the Brooklyn borough of New York.
Photographer: Victor J. Blue/BloombergNew York City’s transit system is looking for a financial adviser on a $5.5 billion light-rail project that will connect neighborhoods in Brooklyn and Queens.
The Metropolitan Transportation Authority, which oversees the city’s subway, bus and commuter rail lines, released a request for proposals this week for a financial consultant on the development, called the Interborough Express Project. The aim is to “ensure that public funds are used effectively, project risks are minimized, and every dollar invested delivers maximum value,” according to the RFP.