New York - Feds Turn Down Request For $2B Loan To Fund Tappan Zee Bridge Replacement |
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Published on: April 26, 2012 12:42 PM
By: Read more at The Journal News
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Photo credit: APNew York - The federal government has turned down the state’s request to apply for a $2 billion loan to help pay for a replacement for the Tappan Zee Bridge, The Journal News has learned.
The state had been counting on the money from the U.S. Department of Transportation for pay for the new $5 billion project, in conjunction with tolls increases and bonding. There is no other financing in place for the new bridge.
“That’s a big piece of what we hope will be the funding plan for the new Tappan Zee Bridge is to get a long-term, low-interest loan,” Thruway Authority executive director Thomas Madison said in March.
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Read Comments (11) — Post Yours »
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Apr 26, 2012 at 12:52 PM Tzi_Bar_David Says:Report as Inappropriate
Good for the Feds. The new design for the bridge makes no provision for mass transit. It would cost $5billion plus and be obsolete from the moment it opened Who would benefit by that? I am sure someone would, but certainly not the US taxpayer.
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Apr 26, 2012 at 01:01 PM Wise-Guy Says:Report as Inappropriate
I don't understand this. The bridge is part of the interstate infrastructure and thus should be federally funded. If it's falling apart there really is not much choice.
You wanna know what I think? (Well, of COURSE you do) I think that the current administration feels a bit TOO secure with getting the New York vote!
No need to waste money on us that could be better spent buying votes in other states...
Unless, maybe, just maybe, the Federal government decided not to lend NY the money because they would rather give it to us as a GRANT. (Oh, and btw, my Grandmother is the Tooth-fairy.)
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Apr 26, 2012 at 01:43 PM Anonymous Says:Report as Inappropriate
Let's rename it from Tappen Zee Bridge NY to Bridge to nowhere Alaska and we will get the full 5 Billion funding.
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Apr 26, 2012 at 01:52 PM sasregener Says:Report as Inappropriate
Excellent News! Now they have an excuse to raise tolls another 50%! It never ends folks it just never ends.
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Apr 26, 2012 at 01:58 PM joeynathan Says:Report as Inappropriate
oh well , back to the drawing board
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Apr 26, 2012 at 03:07 PM Anonymous Says:Report as Inappropriate
Why do yidden need this bridge anyway. Its easier to get to the mountains using the GW Bridge or Holland Tunnel. Maybe monsey-bound traffic might have benefited by even there, not so many people commute from the city to Monsey.
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Apr 26, 2012 at 06:49 PM JackC Says:Report as Inappropriate
“ Why do yidden need this bridge anyway. Its easier to get to the mountains using the GW Bridge or Holland Tunnel. Maybe monsey-bound traffic might have benefited by even there, not so many people commute from the city to Monsey. ”
OK - Lets close the Tappen Zee and funnel all of that traffic additional traffic through the GW or Tunnel.
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Apr 26, 2012 at 08:28 PM Anonymous Says:Report as Inappropriate
“ Why do yidden need this bridge anyway. Its easier to get to the mountains using the GW Bridge or Holland Tunnel. Maybe monsey-bound traffic might have benefited by even there, not so many people commute from the city to Monsey. ”
It's all about you, right? Since you're being so selfish, consider the fact that if the rest of the NYC region doesn't have that bridge, you'll never be able to handle all the traffic on the GW or in the tunnel.
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Apr 26, 2012 at 09:11 PM Yoilish Says:Report as Inappropriate
What bothers me is the way billis of dollars are use Without any sense of accountability. I mean come on Does it cost exactly 5,000,000,000 dollars? Why can't we get an exact amount that it really costs???
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Apr 26, 2012 at 09:50 PM anyview Says:Report as Inappropriate
“ It's all about you, right? Since you're being so selfish, consider the fact that if the rest of the NYC region doesn't have that bridge, you'll never be able to handle all the traffic on the GW or in the tunnel. ”
i think he was kidding
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Apr 27, 2012 at 09:03 AM BaruchGershom Says:Report as Inappropriate
In the full article the Thruway director explains that the Feds didn't say "no" only that they don't have the money now (because of budget cutbacks): “We understand that in light of current financing constraints, the US DOT has prioritized smaller projects that are further along in development and required immediate financing in this first round.” The bridge is on the short list for the next round of funding.