State Thruway Authority Requests Loan Of Up To $2.9 Billion For New Tappan Zee Bridge

WHITE PLAINS, N.Y. (CBSNewYork/AP) - The New York State Thruway Authority is requesting a federal loan of up to $2.9 billion to help build a new Tappan  Zee Bridge.

That's as much as $900,000 more than the state requested previously, when it was turned down.

But Governor Andrew Cuomo has expressed confidence that the loan will be approved. On Friday the Thruway Authority sent the U.S. Transportation Department a 175-page report detailing the need for a new bridge.

The loan request is for $2.4 billion to $2.9 billion. The project is estimated to cost over $5 billion. Executive Director Thomas J. Madison said that the authority was asking for the maximum it could receive.

Bonds backed by tolls are another likely source of construction money. Cuomo recently said that a proposed $14 toll is too high.

When do you predict the new bridge will be built? Let us know your thoughts in the comments section below...

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