EPA NY Bridge Loan Rejection Leads to Setback
The Environmental Protection Agency rejected most of a $511 million loan that had been requested by Governor Andrew Cuomo to finance the construction of the new Tappan Zee Bridge. The original purpose of the loan was for “enhancing the environment.” However, it became clear that the entire amount of the loan would be used for construction of the bridge. The EPA’s rejection of the loan is a major setback for the governor.
The rejection was a reminder of how difficult big infrastructure projects — and the challenges of financing them — are for governors.
So far, the state has obtained $1.6 billion in federal transportation loans, the state asked for an additional $511 million from the EPA through the Clean Water Act.
President Obama used the bridge last May as a backdrop when he urged Republicans in Congress to support his $302 billion, four-year transportation-infrastructure program.
