Dive Brief:

• The Metropolitan Transit Authority (MTA), the nation's largest transit system, and New York City have reached an agreement on financing of the MTA's repair and expansion plan, The New York Times reported.
• The city will pay $2.5 billion, $700 million less than the state requested, The Times reported, and the state will pay $8.3 billion toward the MTA's five-year, $29 billion capital plan of maintenance and improvements to subways, buses and commuter rail lines in the MTA system.

• The agreement comes after a long, public battle between Gov. Andrew Cuomo and Mayor Bill de Blasio over how much the city's share should be in maintaining the transit system on which so many city residents rely.

Dive Insight:

The MTA system is old and, as evidenced by a subway derailment in Brooklyn last month, greatly in need of repairs. This system provides, according to the MTA, 2.73 billion trips a year to a 15-million-person population in a 5,000 square mile area.