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NY Official Downplays PE Role In Tappan Zee Rebuild

Law360, New York (May 10, 2012, 7:37 PM EDT) -- Public dollars including bonds and federal loans will be key in financing a $6 billion rebuild of New York's Tappan Zee Bridge, a top official on the project said Thursday, dealing a blow to private equity groups angling for the starring role.

New York State Thruway Authority Executive Director Thomas J. Madison made the comments before the Citizens Budget Commission, a group dedicated to fighting the Empire State's legacy of rampant deficit spending.

His comments came at a sensitive time for the massive project, which not...
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