OSSINING, N.Y. -- Ossining Assemblywoman Sandy Galef praised the official passage of a $1.6 billion federal loan from the Transportation Infrastructure Finance and Innovation Act in a press release.
"Kudos to Governor Cuomo, President Obama and Congresswoman Nita Lowey and all those who worked so hard to bring this vision to a reality," Galef said in a statement. "This low-interest loan, the largest in TIFIA history, will bring relief to taxpayers and help in the creation of this major arterial bridge."
The loan was announced in March to help help pay for the $3.9 billion project to build a new Tappan Zee Bridge. The project includes two parallel spans and is expected to be completed by 2018.
The New York State Thruway plans to use bonds to help pay for the initial costs. Tolls will be used to help raise money, the state has said. The federal loan would help lower tolls below previous projections and the state is looking for additional loans to further reduce costs
"The Tappan Zee replacement across the Hudson will provide better access for commuters, visitors, truckers, and businesses, improving our infrastructure, helping our economy, and reducing the impact on our environment," Galef added in the statement. "I applaud all the efforts it took to secure this key financing."
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