WHITE PLAINS, N.Y. -- The Department of Transportation has approved a record loan of up to $1.6 billion for construction of a new Tappan Zee Bridge, Congresswoman Nita Lowey announced in a press release today.
The largest-ever loan is part of the DOT's Transportation Infrastructure Finance and Innovation Act (TIFIA) program.
“This is a huge milestone for the construction of a New Tappan Zee Bridge, a critical link in our region’s infrastructure system and lifeline for commuters and businesses,” Lowey said in the release. “I am excited that the DOT has approved the largest ever TIFIA loan for a transportation project and that the work on a new bridge can continue to move forward.
"The construction will continue to create jobs and help New York’s economy grow. I was very pleased to work closely with Gov. Cuomo and our federal delegation throughout this long process to bring a new Tappan Zee Bridge to the Lower Hudson Valley.”