Budget deal includes roughly $900M for Tappan Zee Bridge

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A state budget agreement includes Gov. Andrew Cuomo’s proposal to send $1.3 billion to the Thruway Authority, with about $900 million expected to go toward the Tappan Zee Bridge replacement project.

More details emerged Monday evening on Cuomo and legislative leaders’ plans for a $5.4 billion windfall from settlements with banks and insurers.

The two biggest pieces of settlement cash largely mirror what Cuomo proposed in January: A $1.5 billion competitive fund for economic development projects north of New York City, and the $1.3 billion for the Thruway Authority.

The bulk of the Thruway money — likely to be about $900 million — will go toward the Tappan Zee project.

The remaining money, expected to be around $400 million, will go toward other Thruway capital projects, which is meant to free up money to help avoid a toll hike on the 570-mile highway system for a year.

The economic development competition will be baked in to the existing Regional Economic Development Council program, as Cuomo outlined in a refined pitch earlier this month. Three regions north of New York City excluding Buffalo will each receive a $500 million prize for development projects, paid out in $100 million annual payments over five years.

The winning regions, however, would then be largely excluded from receiving much of the $700 million in existing Regional Economic Development Council grants and tax breaks awarded annually, which means the remaining 7 councils would also get a boost in funding.

(File photo by Ricky Flores / The Journal News)

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  1. What about the Governor’s MTA, and the County bus systems? What about the local roads and bridges?

    The MTA has a $15Billion+ hole in its capital budget. Did the Governor put any state money in to fill it? And with local roads and bridges crumbling (my most frequented local bridge is “structurally deficient”), we could use some money there too.