Merrill Lynch will lead a team of outside consultants to find financing to build a new Tappan Zee Bridge. The one year $2.2 million contract was award by the NYS Department of Transportation.
Regional transportation officials are looking at creative financing options to pay for the $16 billion multi-use (car, rapid bus trainsit, light rail, and pedestrian/bike access) project. Their report is due on December 31.
Merrill joins Winston & Strawn LLP and Loop Capital to assist in exploring funding scenarios for the bridge. Although the Obama administration stimulus bill emphasizes infrastructure projects like the new TZB, a thorough environmental review is till pending making the new bridge ineligible as a “shovel ready” project.
Sources: NYSDOT, Journal News
Photo Credit: Upstream Magazine
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