State to loan $511M for new TZ Bridge

Joseph Spector

The state’s Environmental Facilities Corp. said today it will loan up to $511 million to the new Tappan Zee Bridge project, a move that will help with the financing of the $3.9 billion project.

Half of the loan, up to $256 million, will be interest free and will be used for environmental remediation in and around the bridge, state officials told Gannett’s Albany Bureau.

It’s the latest effort by the state to fund the bridge and limit toll increases when the new 3-mile span across the Hudson River is completed in 2018.


http://polhudson.lohudblogs.com/2014/06/16/state-loan-511m-new-tz-bridge/