TZ Bridge project team seeks public input on financing options

June

The team in charge of replacing the Tappan Zee Bridge today said it wants to create a new committee to get input from Rockland and Westchester residents about how to pay for the $16 billion project.

There is currently no funding in place for the project, which has three components: a new bridge ($6.4 billion); a 30-mile high-speed bus network from Suffern to Port Chester ($2.9 billion); an east-west rail line from Suffern to Tarrytown, where it would link up with Metro-North Railroad’s Hudson line, providing a direct ride from Rockland into Grand Central Terminal in Manhattan ($6.7 billion).

State officials have said it will likely be funded through a combination of public and private funds.

The citizens committee on finance will be formed this month, making it the fifth Stakeholder Advisory Working Group to work with the project team. The other four have had their own focus — bridge design, environment, traffic-transit and land use — and been in place for almost two years.

“Throughout the project development process ahead, we will continue to engage the public,” acting state Department of Transportation Commissioner Stanley Gee said in a press release. “The new Stakeholder Advisory Working Group on Finance is yet another way we are reaching out to local communities, providing public feedback and incorporating public input as the project goes forward.”

The DOT, the project team’s lead agency, recently hired Merrill Lynch, Pierce, Fenner & Smith Inc., of New York City to serve as the project’s financial advisor.

The project team, made up of the DOT, state Thruway Authority and Metro-North Railroad, today also released the “Scoping Summary Report,” which finalizes last year’s recommendations and encompasses public comments that were received last year. This formally marks the start of the Draft Environmental Impact Study phase, which will involve detailed environmental analysis.

The 236-page summary report is available at http://tzbsite.com/.

Read more about this story tomorrow in The Journal News and LoHud.com.

This entry was posted on Wednesday, June 10th, 2009 at 1:07 pm by Khurram Saeed.
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