US Hands Record $1.6B To NY's Tappan Zee Replacement

Law360, New York (October 31, 2013, 3:50 PM EDT) -- Some of the clouds obscuring the financing picture for New York state's $3.9 billion Tappan Zee Bridge replacement parted Thursday as the federal government approved a low-interest loan of up to $1.6 billion — the largest in history under Washington's Transportation Infrastructure Finance and Innovation Act.

Gov. Andrew Cuomo made the disclosure on WCNY radio after initially saying the decision was due "soon" and downplaying the amount of money that would be available. But by later in the day the news surfaced that the loan had...
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