Financial expert breaks down possible funding for new TZB

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.

The New Tappan Zee: Expanded CoverageNYMTC approves new Tappan Zee Bridge projectGov. Cuomo signs TZ Bridge loan request

advertisement | advertise on News 12

Trending Video

1 VIDEO: 2 men hold up Thornwood Verizon store
2 Rangers riding 3-game winning steak into 2nd round of playoffs
Technology is making it easier to have a 3 Apps make it easier to share expenses
News 12 Long Island and Newsday take a 4 Best fast food breakfasts
News 12 speaks with residents about what they 5 Westchester Talks Trump: Tax plan

advertisement | advertise on News 12


Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.