May 17, 2011

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Public-private partnerships could build new TZB, say key state senators

By some estimates, replacing the aging Tappan Zee Bridge
could cost up to $16 billion

ALBANY – Legislation is being formulated in Albany that would allow for public-private partnerships to build bridge projects in New York and among the top projects on the list would be construction of a new Tappan Zee Bridge over the Hudson River.

The Chairman of the Senate Transportation Committee, Senator Charles Fuschillo, Jr. (R-Long Island) said if approved by the legislature and signed into law, the TZ Bridge project would be a natural.

“That’s one of the goals with a public-private partnerships or infrastructure bank to enable investors who want to come here to New York and invest their dollars and look at rebuilding the Tappan Zee Bridge,” he said. “It has been estimated that it’s up to a $16 billion project; that’s money the state doesn’t have.”

The Transportation Committee conducted a hearing on the so-called P-3 proposal and how lawmakers would go about crafting the appropriate legislation to put it into place.


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