News Column

Statement from Thruway Authority Executive Director Thomas J. Madison

July 16, 2014

ALBANY, N.Y., July 16 -- The New York State Thruway Authority issued the following statement by Executive Director Thomas J. Madison:

"We are pleased that the Public Authorities Control Board (PACB) today approved the first installment of the $511 million in no-interest/low-interest loans from the Clean Water State Revolving Fund for this year while we continue, as planned, to secure a second $256 million installment in 2016. These loans have already been approved by the Environmental Facilities Corporation (EFC) to help pay for the extraordinary environmental measures designed to protect the Hudson River Estuary during and after construction of the New NY Bridge project. All the environmental mitigation measures on the project will continue to be implemented as planned. The Thruway Authority is committed to an unprecedented level of environmental stewardship on the New NY Bridge project, and also to keeping tolls on the new spans as low as possible; this innovative financing package helps us achieve both goals."

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Source: Targeted News Service

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