Tuesday, July 22, 2014

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Bonds approved for Tappan Zee project

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CNY/NNY/S. Tier: Bonds approved for Tappan Zee project
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HUDSON VALLEY, N.Y. -- $500 million in short term bonds is approved to jump start construction on the new Tappan Zee Bridge Project. The New York State Thruway Authority board approved the bonds after Thursday night's meeting. They will be used to pay for project costs over the next six months.

The state is working to secure a U.S. Department of Transportation loan, which the board says would be used to pay back the bonds.

This all comes a week after the $3.14 million contract between the Thruway Authority and Tappan Zee Constructors was approved by the State Comptroller and Attorney General.

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