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  • Feds award state $1.6B loan to fix Tappan Zee Bridge

    11/02/2013 11:02:24 PM PDT · by Impala64ssa · 178 replies
    NY Daily News ^ | 11/1/13 | Kenneth Lovett
    ALBANY — In a major boost for the state, the federal government has awarded New York the low-interest loan it was seeking to help pay for the construction of the new Tappan Zee Bridge. The feds agreed to lend up to $1.6 billion — the largest loan ever given out under the Transportation Infrastructure Finance and Innovation Act — to fund a third of the anticipated costs for the new bridge over the Hudson River. It’s everything we’ve been looking for and more,” Cuomo crowed on public radio. Earlier this week, Standard & Poor’s reduced the Thruway Authority’s bond rating...