NEW YORK (FOX5NY) - In an effort to raise funds for the beleaguered New York City subway system, Governor Andrew Cuomo's administration is starting an adopt-a-station program where private companies would donate money to fund maintenance and security enhancements.
The companies could even get naming rights for the stations they adopt according to MTA head Joe Lhota.
"The subway is the lifeblood of New York City, and everyone is coming together to be part of the solution to improve our transit system," Governor Cuomo said. "The first of its kind subway partnership program will invite private sector partners to play a role in transforming our stations."
The program will start with 72 stations, including 18 each in the Bronx, Brooklyn, Manhattan and Queens. Companies would have to pony up contributions of up to $600,000.
The stations were selected based on several factors including the highest number of customer complaints regarding station condition, high volume of traffic and intersections with several lines at transfer points.
Empire State Development President, CEO Howard Zemsky said, "These public-private partnerships will yield the innovation, ideas and support needed to improve New York's subway system."
The governor is also setting up a Subway Partnership program. Companies would have to come up with a minimum commitment of $250,000 to join the council.
Cuomo says several companies have already agreed to join the program. They include BlackRock, MasterCard, and Estee Lauder.