Financial expert breaks down possible funding for new TZB

On Monday, Gov. Andrew Cuomo submitted the request for a $2 billion federal loan to cover part of the cost to build the new Tappan

YONKERS - On Monday, Gov. Andrew Cuomo submitted the request for a $2 billion federal loan to cover part of the cost to build the new Tappan Zee Bridge. Residents, however, are wondering where the rest of the projected $5.2 billion will come from.

Matthew Carey, the Director of the Center for Financial Market Studies at Iona College, says the state does not have many options. He says one option is using toll-backed bonds.

Officials would use the revenue from the tolls collected in addition to the concessions that are run on the side of the thruway to pay back any bonds they are issued.

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