News Column

Speaker Silver Statement on Approval of New NY Bridge Loan Request

July 16, 2014



ALBANY, N.Y., July 16 -- The New York State Assembly Speaker Sheldon Silver issued the following statement:

The Tappan Zee Bridge is a critical part of the Northeast's infrastructure and a vitally important link for New York's economy. The members of the Assembly's Democratic Majority understand the importance of the state Thruway Authority's ongoing effort to replace this bridge, and they also know that we must be good stewards of the state's resources.

With this in mind, I am voting today to approve - with certain agreed upon revisions - the New York State Environmental Facilities Corporation's (EFC) request for funding from the Clean Water State Revolving Fund (CWSRF) to finance the Thruway Authority's New NY Bridge Project. Since only a portion of the funding - $256 million - is needed imminently, we are granting approval today for this amount to reimburse the Thruway Authority for projects already undertaken and to be undertaken before the end of the federal fiscal year that comply with the requirements under the CWSRF.

This approval includes the following:

* Funding shall be for projects eligible under the Clean Water Act and the management goals of the NY-NJ Harbor Estuary Comprehensive Conservation and Management Plan. It is important to ensure that the proposed projects are eligible for this funding under federal law so as not to put future federal funding at risk.

* EFC shall obtain approval of the loan request from the Thruway Authority's Board of Directors before proceeding with the funding.

* Funding shall be for only those expenditures under the scope of projects as described in the May 2014 "Water Quality Protection Elements of the New NY Bridge Project, Clean Water State Revolving Fund, Technical Memorandum."

* Spending shall be in compliance with the rules and regulations of the United States Environmental Protection Agency.

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