Financing woes for Tappan Zee Bridge replacement

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Harriet Cornell, Chairwoman of the Rockland County Legislature, welcomes participants to the Summit on Financing for the Tappan Zee Bridge Project

Harriet Cornell, Chairwoman of the Rockland County Legislature, welcomes participants to the Summit on Financing for the Tappan Zee Bridge Project

On September 29, 2009, the Rockland County Legislature held a “Summit on Financing the Tappan Zee Bridge & I-287 Corridor”.   PCAC Associate Director Jan Wells attended, along with Randy Glucksman, Council nominee from Rockland County.  Jan presented the key points of the Summit to MNRCC members at their October meeting:

The cost of a transit-ready bridge (Bus Rapid Transit or commuter rail) is estimated at $6 billion; the cost of both a transit-ready bridge and corridor across Rockland County is $16 billion.  Mike Anderson, the NYSDOT Project Manager for the TZB, indicated that the Final Environmental Impact Statement is expected in April, 2011.  The design phase would then take place from 2011-2013 and construction from 2013-2017.

Phil Ferguson, NYSDOT Finance Manger for the TZB project, said that the consulting team headed by Merrill Lynch was due to submit their report on funding strategies in early 2010.  Following Mr. Ferguson, was Joseph Ruggiero, Director of Strategic Planning at the NYS Controller’s Office.  He warned that NYS would be approaching its borrowing limit in a few years and that state dollars would not be available for this project.

The last speaker was Yvette Hinds, Deputy Director for Outreach and Community Development, NYSDOT.  She announced the dates for the first transit-oriented development workshops: November 16th for Westchester County and November 19th for Rockland County.  Interested stakeholders are invited to attend but must register in advance.   For more information call 914-358-0600.

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