The Long Island Rail Road says the volatile market and sharp drop in tax revenues are forcing it to temporarily put the brakes on planned service improvements.
While many LIRR commuters say they would like more trains and ticket vending machines, Metropolitan Transportation Authority CEO Elliot Sander says they?ll have to wait. Sander previously said those changes would be seen in the fall of 2008, but the money from real estate tax revenue the MTA receives has decreased in recent months.
The MTA says tax revenues were $18.4 million over the budget in January, while in March revenues were $31.5 million below budget.
The improvements being pushed back include 30 new ticket machines and four more trains for the Farmingdale, Hicksville and Far Rockaway lines.
Officials will decide in June whether to go forward with improvements. If they decide to, changes won?t be seen until December 2008 or sometime in 2009.