MTA riders won't have to pay for Sandy damages
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NEW YORK -- MTA riders will not be stuck paying for the cost of repairs caused by Superstorm Sandy. That's according to MTA Chairman Joseph Lhota, who says they hope to cover most of the storm related costs with aid from FEMA and insurance reimbursements.
The MTA is facing more than $5 billion in damages and lost business from Sandy. Stations and tracks were flooded after the storm, causing major service disruption for four days.
The MTA says it will have to start borrowing to rebuild because it could be years before they see any of the insurance money or federal assistance.
The MTA board is expected to vote early next year to authorize short term borrowing.