$1.6B federal loan set for Tappan Zee Bridge

The U.S. Department of Transportation recently approved a record-high low interest loan of up to $1.6 billion for the construction of a new Tappan Zee Bridge.

The loan, provided by the federal government’s Transportation Infrastructure Finance and Innovation Act program, is the largest allotment in the program’s history.

After a decade of delay, the bridge project developer Tappan Zee Constructors L.L.C. received approval to move into the construction phase in 2011.

The steps leading up to the construction phase included the enactment of new design-build legislation, the completion of environmental review and procurement processes and the negotiation of a project labor agreement with construction unions.