11/21/2012

Design plans for the $5 billion Tappan Zee Bridge replacement have not yet been released, but New York Gov. Andrew Cuomo's office promises the public will see them before a bid is awarded. The state is seeking up to $2.9 billion in federal funding for the project. "To maintain TIFIA [Transportation Infrastructure Finance and Innovation Act] eligibility, the project has to follow all federal requirements," said Matthew Carey, director of the Center for Financial Market Studies at New York's Iona College. "There is a huge downside to not following those guidelines to the letter."

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