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NY hits speed bumps on Tappan Zee financing

September 29, 2013
Associated Press

ALBANY, N.Y. (AP) — Gov. Andrew Cuomo's ambitious plan to replace the aging Tappan Zee Bridge has quietly hit financial uncertainties this year, which could cost New Yorkers statewide.

The federal government says New York will get a loan of no more than 33 percent of the nearly $4 billion project after the Cuomo administration sought 49 percent.

According to documents and interviews, that could mean spreading cost of the bridge in New York City's northern suburbs to motorists statewide and even again tapping the state budget.

The Cuomo administration, however, remains optimistic it will get the federal loan of $1.5 billion. It won't reveal a toll increase plan but says a task force will make it manageable.

 
 

 

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