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The Boston Real Estate BlogI am an independent real estate broker, focused on the residential real estate market in downtown Boston. |
Nyc’s Mayor To Propose Congestion Pricing
How exciting.
Mayor Michael R. Bloomberg will call on Sunday for a raft of ambitious and sometimes contentious proposals that are intended to ease traffic congestion, reduce air pollution, build housing, improve mass transit and develop abandoned industrial land.
What will almost certainly be the most contentious idea, however, involves charging drivers to enter the busiest sections of Manhattan. The proposal being formulated calls for money raised from congestion pricing, which could reach hundreds of millions of dollars a year, to go into a fund for large-scale transportation investments. Those would include projects for the boroughs outside Manhattan, where drivers would be most affected by new fees that could reach $8, minus a credit for any tolls already in effect.
Opposition has already formed to congestion pricing, which Mr. Bloomberg himself has resisted in recent years ...
Mayor Bloomberg's final term ends in 982 days. I think he'll have it done by then.
If NYC does it, expect every other American city to start discussing it, as well.
Source: Bloomberg to Unveil Long-Term Vision for City - By Diane Cardwell and Charles V Bagli, The New York Times
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