Up To Speed

Brent Spence Bridge on the outside looking in as Tappan Zee Bridge replacement gets $1.6B DOT loan

Brent Spence Bridge on the outside looking in as Tappan Zee Bridge replacement gets $1.6B DOT loan.

Originally built during the Korean War, the Tappan Zee Bridge is in need of replacement. The structure is old and requires a number of upgrades – much like Cincinnati’s Brent Spence Bridge. The State of New York was in need of financial assistance to get the $4 billion project moving (sound familiar?). That assistance came last week when the Federal Government announced a $1.6 billion loan for the project, thus ensuring its completion within five years. More from Engineering News Record:

New York Gov. Andrew Cuomo (D) made the announcement Oct. 31, calling it “the largest loan the U.S. Dept. of Transportation has ever made for any project like this.”

The loan was made through the DOT’s Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Established in 1998, TIFIA has ramped up its lending recently, spurred by last year’s Moving Ahead for Progress in the 21st Century Act (MAP-21). The DOT also began taking steps earlier this year to speed up the TIFIA loan approval process.

By Randy A. Simes

Randy is an award-winning urban planner who founded UrbanCincy in May 2007. He grew up on Cincinnati’s west side in Covedale, and graduated from the University of Cincinnati’s nationally acclaimed School of Planning in June 2009. In addition to maintaining ownership and serving as the managing editor for UrbanCincy, Randy has worked professionally as a planning consultant throughout the United States, Korea and the Middle East. After brief stints in Atlanta and Chicago, he currently lives in the Daechi neighborhood of Seoul’s Gangnam district.