Crain’s New York reports that NY Governor Andrew Cuomo will keep MTA Chairman Jay Walder and Port Authority Executive Director Chris Ward in their posts.

That’s good news. Tri-State and other advocates had urged the governor to retain both leaders, both of whom have proved adept at cutting costs while continuing to innovate in tough financial times.

In addition, bringing in new leadership at either agency would have been disruptive at a time when cohesion is needed. Transit funding will be a major issue in 2011, since the MTA’s 5-year capital program is unfunded for the 3 years starting in 2012. On the Port Authority side, the Cuomo administration will have to figure out a response to New Jersey’s request for $1.8 billion in Port Authority money for its plan to fund transportation. (As Crain’s points out, keeping Ward also gives the Port Authority the best chance of completing the 9/11 Memorial in time for the tenth anniversary of the attacks).