A year into construction of the new $3.9 billion Tappan Zee Bridge in New York, state officials have yet to spell out what tolls will be assessed on the new bridge.
Recently, the Environmental Protection Agency balked at Gov. Andrew Cuomo’s proposal to use $511 million in federal clean water loans on the project.
Cuomo himself later dismissed another creative financing suggestion: tapping some of the billions of dollars New York has collected in recent months in legal settlements over alleged wrongdoing by banks and insurance companies.
State officials won’t provide their estimates for the toll — currently $5 — that will be needed to make payments on the bonds and loans that will finance construction, though figures of $9 and as high as $14 have been mentioned. Some motorists worry the toll could even approach $20, which would make it among the most expensive crossings in the nation.
Lawmakers, rating agencies and commuters have all expressed concerns about just how high the toll might be when the new span across the Hudson River 25 miles north of Manhattan is completed.