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.”
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