New York – A state board has approved half of New York Gov. Andrew Cuomo’s plan to use clean water funds to help finance construction of the new Tappan Zee Bridge.
Subscribe to our Daily Roundup Email
The Public Authorities Control Board has authorized the $256 million, five-year, no-interest loan from the Environmental Facilities Corp. after two members noted federal authorities haven’t signed off and the full project cost and future bridge and highway toll hikes are still unknown.
The Thruway Authority’s request for a second $256 million loan at 4 percent interest, originally on Wednesday’s agenda, has been postponed.
Officials say it will be resubmitted, possibly next year.
Environmentalists argue it’s an inappropriate use of money meant for drinking water and sewage treatment projects.
Thruway and EFC officials say this novel approach is authorized under the law.
This bridge will run 1 Billion dollars over budget.
It should include train tracks; it will be obsolete the day it opens.