NY City Council Speaker Christine Quinn, Mayor Michael Bloomberg, and Comptroller John Liu
New York will be accelerating more than $1 billion worth of work on infrastructure projects already in the city's capital plan.
Mayor Michael Bloomberg cautioned that these are not big ticket items. "The bulk of them are completely unglamorous," he said, adding that most of them can be completed within a 20-month time frame. The city is accelerating the work to take advantage of low interest rates.
A description of the authorized projects includes road and bridge repairs, waterfront infrastructure development, and improvements to city buildings and libraries. The mayor said an additional 300 miles of city roadways will be resurfaced, and it will also speed up the removal of PCBs from lighting fixtures in schools.
These are projects that are "ready to go, need to happen, and will be finished in the fixed timetable," the mayor said. He estimated that the work would create 8,000 jobs, mostly in the construction industry.
Read more about the project here, or watch a video of the announcement.
Bonus: hear the mayor announce the initiative in Spanish.