On September 15, 1929, the Board of Transportation of the City of New York (BOT) tentatively approved the expansion, which included a Second Avenue Line with a projected construction cost of $98.9 million (equivalent to $ in ), not counting land acquisition. In the north, several spur lines in the Bronx would merge into a four-track trunk line, crossing the Harlem River south to 125th Street. There would be six tracks from 125th Street to a link with the IND Sixth Avenue Line at 61st Street, then four tracks from 61st Street to Chambers Street, and finally two tracks from Chambers Street to Pine Street. But the Great Depression began that year and the soaring costs of the expansion became unmanageable. Construction on the first phase of the IND was already behind schedule, and the city and state were no longer able to provide funding. By 1930, the line was scaled down, with the line from 125th to Houston Streets to be complete by 1940, as well as a spur along 34th Street to be done by 1948. This scaled-down plan was postponed in 1931. By 1932, the Board of Transportation had modified the plan to further reduce costs, omitting a branch in the Bronx, and truncating the line's southern terminus to the Nassau Street Loop.