New York - Feds Turn Down Request For $2B Loan To Fund Tappan Zee Bridge Replacement
New York - The federal government has turned down the stateâ€™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.
â€śThatâ€™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,â€ť Thruway Authority executive director Thomas Madison said in March.
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