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.
WCBS 880’s Paul Murnane On The Story
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.