Merrill Lynch will look at all financing strategies, including raising tolls, bonding and leasing the bridge to private investors who put money upfront in exchange for collecting toll revenue over the years. Known as public-private partnerships, it has been used by other cash-strapped governments to pay for road improvements.

“They will advise the department and its partner agencies of the pros and cons about its various options for financing the project,” DOT spokeswoman Jennifer Post said of Merrill Lynch.

The state is negotiating a five-year contract with the investment bank. The state comptroller’s office must provide final approval.

In May, the team in charge of the Tappan Zee Bridge/Interstate 287 project had been expected to say whether it favored replacing the 52-year-old bridge or rebuilding it, and what type of mass transit would run the 30-mile I-287 corridor from Suffern to Port Chester.

The state DOT says that announcement is expected soon.Project costs could range from $3- to $14-billion, however those figures are now several years old.

Read the full story tomorrow in my Getting There column or on LoHud.com.

The cars, which are already used on several lines, will boost capacity and literally give riders more legroom.

Anyway, the full press release is below.

Periodic traffic stoppages on I-84 and I-87 will occur between 10 a.m. and 2 p.m. on I-84 at Exit 7 (Union Ave., Rte. 300), on I-87 at Exit 17 (Newburgh, Stewart International Airport)  and on Stewart Ave., a local road.

Each stoppage shouldn’t last more than 10 minutes.

Blasting activity and traffic stoppages will continue to take place from 10 a.m. and 2 p.m., Monday through Thursday until October, weather permitting. The project is expected to be completed in November 2009.

A Norfolk Southern freight train derailed in Waldwick, N.J., shortly before 2 p.m. today and is blocking two of three available tracks on the line, a New Jersey Transit spokeswoman said. The Main/Bergen line turns into the Port Jervis line just past Suffern.

“Crews are on scene working to clear the derailed cars as quickly as possible. However, the incident is expected to impact the evening peak period,” a statement on the agency’s Web site reads.

Customers are being told to expect delays of 30 to 60 minutes on trains traveling through the Waldwick area. Because some outbound trains from Hoboken may be combined to relieve congestion, there may be overcrowding.

Tickets are also being cross-honored on NJ Transit buses as well as private carrier buses.

NJ Transit said buses will substitute for trains in the inbound direction only between Allendale and Waldwick stations. Customers will travel by train from Suffern to Allendale, N.J., by bus from Allendale to Waldwick, then by train from Waldwick to Secaucus Junction, and onto Hoboken.

Metro-North Railroad, which contracts with NJ Transit to provide passenger rail service west of Hudson in New York, said the inbound 3:23 p.m. train from Middletown, due Hoboken at 5:11p.m. will continue to operate as a train.

For the updates and information, visit www.njtransit.com.

He’s distributing his annual survey at local stations.

With the Metropolitan Transportation Authority is proposing two — count ‘em, two — fare hikes (more…)

The blasts are scheduled to go off at 10:30 a.m. and 1:30 p.m. each day through Thursday. Workers setting off the explosives use (more…)

Emirates airlines is beginning to fly from Dubai to New York, and it’s starting big. The airline will fly its new Airbus A380, the largest airplane in the world, to John F. Kennedy International Airport this afternoon.

Just three days ago, the airline received the 525-seat, two-deck (more…)

You can tell the idea will take some time to put in place, because the MTA’s approach (more…)

It gives Rockland residents one more reason to buy their gas in Jersey.

The airport recorded 744 noise complaints during June, and 256 of them — more than a third — were e-mailed by one person, (more…)