Thruway Auth. Seeks $2 Billion Loan For New Tappan Zee Bridge
TARRYTOWN, NY (CBSNewYork) - New York State is expressing interest in a $2 billion loan under what’s called the Transportation Infrastructure Finance and Innovation Act as it seeks to replace the Tappan Zee Bridge.
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The Wall Street Journal says the New York State Thruway Authority in a December letter said the loan would be secured by its toll revenue – $660 million in 2011 statewide – $130 million last year from the Tappan Zee Bridge.
EXTRA: Read The Letter
The $2 billion will cover roughly a third of the cost of the new bridge, according to this letter.
A spokesman for the state DOT says this is only a letter of interest from Albany, adding that they are exploring all opportunities for financing.
Reports say the Port Authority is looking at the same program for financing the Goethals Bridge.