$1.6-Billion Federal Loan for Tappan Zee Approved
Gov. Andrew Cuomo said Thursday that a $1.6-billion federal loan has been approved to replace the Tappan Zee Bridge over the Hudson River.
Cuomo said that construction is proceeding on the estimated $3.9-billion project. Asked about the expected tolls for drivers, he said other questions need to be answered first, including construction costs and the time required.
Standard & Poor’s Ratings Service on Tuesday downgraded the rating for bonds sold by the Thruway Authority from A+ to A over concerns about how much tolls will increase.
This article appeared in print on page 5 of edition of Hamodia.
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