New Tappan Zee bridge pegged at $5.2 billion

WHITE PLAINS, N.Y. — The cost of a new Tappan Zee Bridge has been shaved to $5.2 billion by focusing solely on the bridge, a federal agency said Oct. 11. In the past, mass transit components, ranging up to a new commuter rail line, were considered key elements of a new span over the Hudson River. President Barack Obama chose the project for quick federal approval of environmental and other permits, and the Federal Highway Administration said those could be obtained within a year. Construction, creating thousands of jobs, could begin soon afterward, it said. The FHA said the 56-year-old bridge “is functionally obsolete and will soon be structurally deficient." It warned that travel restrictions might be imposed if the bridge isn't replaced. The Tappan Zee carries the state Thruway, and about 140,000 vehicles a day, across the Hudson River between Westchester and Rockland counties. Deterioration has set in, and maintaining it has been costing the state up to $100 million a year. The project will deliver at least 33,000 “job years" in construction and materials production, the agency said, referring to the level of economic investment. One person working for four years on the bridge, for example, would be four job years. No funds have been officially earmarked for the project, authorities said. The FHA said New York plans to pay for most of the project — $3 billion — with bonds secured by anticipated tolls. It said the state also plans to tap labor pension funds, federal loans and other sources.