
Cuomo: "We Don't Know" True Cost of Tappan Zee — Or Its Future Tolls

New York's governor says it's too early to know how much the new Tappan Zee Bridge will cost — or what its future toll will be.
Speaking Friday on the radio show Capitol Pressroom, host Susan Arbetter asked Andrew Cuomo when the state would put out a full financing plan for the Tappan Zee Bridge — especially given the federal government's recent disqualification of the state's attempt to borrow half a billion dollars from clean water funds for its construction.
Cuomo, who said at that time that the bridge "wasn't dependent" on that loan, doubled down on that stance on Friday: "The EPF was never part of the financing of the Tappan Zee," he told Arbetter.
But earlier this year, the governor's office released a statement saying the loans "will help keep any potential future toll increases down by greatly reducing the interest rates and financing costs for a significant portion of project’s overall $3.9 billion estimated cost."
The governor's office has yet to reveal how it will pay for the construction of the bridge, but officials have indicated that the basic finance plan is to use toll-backed bonds
"We're still going to have to deal with the question of the financing, and you need some facts before you do that," Cuomo told Arbetter. "You need to know the total cost of the bridge, which we don't know yet. We have estimates." (As mentioned above, that estimate is just south of $4 billion, although some reports say that number excludes at least $800 million in related costs.)
Cuomo added he needed to know "the general state of usage of the bridge, which we don't know yet" in formulating a tolling plan.
Arbetter also asked the governor if he would use recent settlement money to help pay for the bridge. "You have people who want to use the surplus to pay down the cost of the bridge," he said. "How do you figure out what the tolls should be on a bridge? And you want to talk about how much should a toll be on the Tappan Zee, which is sort of whatever you want it to be, right?"
Currently, it costs $5 to drive cross the existing Tappan Zee.