The MTA will ask its board to approve $51.5 billion in capital spending next week. The 2020-2024 capital plan calls for new signals on six lines, new elevators in 70 stations, 1,900 new subway cars, 2,400 new buses, and the second phase of the 2nd Avenue subway, which includes three more stations to Harlem.

The capital plan is heavily weighted toward New York City Transit, with $37.3 billion for the city’s subways and buses, and incorporates many of the ideas Transit President Andy Byford wanted for his Fast Forward plan. The 2015-2019 capital plan allocated $16.7 billion in spending for subways and buses, out of a total $29 billion.

“I’m ecstatically happy,” Byford said Monday. “This couldn't be better, this plan exceeds my wildest expectations.” According to MTA Chairman Pat Foye, Byford even said this plan is better than Plymouth Argyle winning the premier league (Byford’s favorite football team, which doesn’t come close to qualifying for the premier league).

The plan includes funding for modern Communications Based Train Control (CBTC) signals, like the signals on the L and 7 lines. The first line the MTA will focus on is the Lexington Avenue 4, 5, 6. Other lines that are expected to get new signals are the A, C, E, G, F, N, and W lines.

The MTA doesn’t know whether it will need to close lines for extended periods or if it can do that work on nights and weekends as it’s doing now (mostly) with the L train. In fact it won’t even say when it hopes the signals will be completed. “I don’t like to engage in the guarantee language,” the head of Capital Construction Janno Lieber said.

The plan calls for $5.2 billion to be spent on 65 new escalators and 78 new elevators, a significant increase over the last capital plan, which allocated $1.3 billion for 28 accessibility upgrades. Byford had called for installing 50 elevators systemwide, which would ensure riders are never more than two stops away from an accessible station. Right now, 24 percent of the stations are accessible.

While the MTA is counting on the largest funding source of the plan, $15 billion, to come from congestion pricing (Central Business District Tolling as it’s now called), there could be the kind of protracted politicking between the governor and city we saw over funding half of the Subway Action Plan. The new Capital Plan is counting on $3 billion in funding from the city, explicitly for funding the elevators program. Chairman Pat Foye says Governor Cuomo has committed to funding the state’s part, but it’s still pending approval by the legislature. The city contributed $2.6 billion to the MTA's last capital plan.

“The Senate Leader, Assembly Speaker and Mayor of New York City must approve the plan in order to move forward as they each have unilateral discretionary veto power,” Governor Cuomo said in a statement after the plan was released to the public.

Foye said he’s meeting with representatives from the city Monday to discuss the Capital Plan, but wouldn’t specify exactly who he’s meeting.

The Long Island Railroad is expected to get $5.7 billion in spending for 160 new cars, and more spending for Third Track, another rail line along the Main LIne. It also expects to make 97 percent of its stations accessible, currently 90 percent are accessible. Metro North will also receive $4.7 billion in spending, with much of that dedicated to the new stations in the Bronx.

The plan includes $4.55 billion for the second phase of the 2nd Ave.subway, which includes another three stations and extends to 125th street in Harlem. The total cost of the project, with the federal government picking up half the costs, is expected to reach $6.2 billion.

When asked why the public should trust the MTA to deliver any of these projects on time and on budget, particularly the 2nd Ave Subway, which was the subject of an extensive Times story dubbing it “The Most Expensive Mile” of subway tunnel on earth, the MTA blamed none of things targeted in the article and pegged high costs to complying with strict fire codes that call for “vertical circulation to get people out” in an emergency.

“We’re already demonstrating that we can control costs by shortening project times, by delivering fewer change orders, paying contractors faster–we’re already demonstrating that we can and will build projects faster, better, and cheaper and I’m confident the 2nd Avenue subway will prove that out,” the MTA's head of Capital Construction Janno Lieber said on Monday.

Riders Alliance praised the plan as a “big step in the right direction” but called on elected officials to fully get behind it. “Governor Cuomo will have to lay out a detailed timeline for the work and manage his MTA to stay on time and on budget. The governor will also have to find the funding required to do the complete job without taking shortcuts or forcing the MTA into more debt. The legislature will have to cooperate to fund these much-needed transit repairs, as well as to ensure that the capital plan is fully vetted and approved and that the MTA is accountable to the public for the money we are investing,” John Raskin, Executive Director of the Rider’s Alliance, said in a statement.

While the last capital plan is neither funded nor complete, the new one isn’t a deadline for getting these projects completed either. Chairman Foye said the MTA is on track to complete the current capital plan by the end of the year; 75 percent of it is funded. He fully expects this plan to be fully funded by 2024.

The total cost of the capital plan would be $54.8 billion if you include Bridges and Tunnels, although those costs aren’t included because that division pays for its work through tolls. The main focus of Bridges and Tunnels will be to install tolling devices for the forthcoming congestion pricing, which have yet to be chosen. It’s also planning about $1 billion worth of upgrades to the Verrazano Bridge, including new approach ramps and widening some sections.

Oh, and there’s also a forensic audit of how the MTA spends money and its finances that was required as part of the congestion pricing bill, so everything you’ve just read could be changed depending on the findings of that audit. It’s expected to be released by the end of 2019.