Proposal aims to privatize aging Tappan Zee BridgePosted: Updated:
There is a proposal on the table to have Westchester County take control of the Tappan Zee Bridge in an effort to fix or rebuild the aging span.
The Tappan Zee Bridge was built in the 1950s and is the focus of a regional transportation problem. Plans are being created to replace the heavily trafficked bridge, which is in constant need of repairs. However, one cost estimate puts the project at more than $14 billion. Westchester County Association President Bill Mooney says it is time to consider taking the project out of the hands of New York state and giving it to private investors. Mooney says similar projects have been privatized in Europe and Asia. The Pennsylvania Turnpike is also being considered for privatization.
Proponents of the plan say taxpayers would benefit because they would not bear the cost of bonding and the resulting interest payments on those bonds. Investors would also benefit from the steady stream of income from tolls.