Skip to Content
Streetsblog New York City home
Streetsblog New York City home
Log In
Andrew Cuomo

Thruway Director: Private Financing for Tappan Zee Not a Done Deal

In his confirmation hearings, Thruway Authority executive director Tom Madison noted that the financial plan for the Tappan Zee Bridge isn't complete yet.

While predicting that work on the new Tappan Zee Bridge could start as early as this summer, incoming Thruway Authority executive director Tom Madison revealed at confirmation hearings yesterday that financing for the new bridge is still very much a work in progress.

"At this moment, as we sit here, the complete financial plan has not been developed for the Tappan Zee Bridge," said Madison.

One major complication is whether "alternative financing," such as using union pension funds rather than traditional bonding, will be on the table for the Tappan Zee. Under current law, the state can't engage in that type of arrangement.

"At this moment in time, we don’t have the legal statutory allowance in New York state to do public-private partnership as they are technically defined in transportation projects," said Madison, as quoted by the Politics on the Hudson blog. “So right now, the plan is that the Tappan Zee Bridge will be a publicly financed project.”

However, in his State of the State address last week, Governor Cuomo reiterated his goal to finance the Tappan Zee with private sector investment. So it looks like the legislature will be called on to change the law, setting up a vote that could enable private financing for the project some time in the first half of this year.

Stay in touch

Sign up for our free newsletter

More from Streetsblog New York City

NYPD’s Push To Criminalize Cycling Spells Trouble For Immigrant Workers

Safety for the community? Great. But aren't delivery workers part of the community, too?

May 9, 2025

Friday’s Headlines: Habemus Knicksum Edition

It was a big day yesterday, but we're not on the sports or the religion desk, so let's get to our news.

May 9, 2025

Friday Video: Who Ruined Outdoor Dining?

We sent our own video team to find out.

May 9, 2025

Decision 2025: Mayoral Hopefuls Discuss E-Bikes … With Joy and Concern

E-bikes are a vital tool for delivery workers and for people seeking to reduce their use of private cars. What would you do to both expand e-bike use and make streets safer? And the answers are...

Live from Albany: Hochul’s ‘Safety’ Measures Stripped from Budget

Lawmakers dropped three initiatives that Gov. Hochul said would have made roadways safer (though, as we'll see, that's very much in question). Let's review them.

May 9, 2025
See all posts